Published: 2023-12-12T04:03:06.000Z
Chart EUR/USD Update: Further losses likely limited
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Levels Imp Comment Levels Imp Comment R4 1.0965 * 21 Nov high S1 1.0756 * 6 Nov high R3 1.0887 * 14 Nov high S2 1.0695 * 24 Oct high R2 1.0850 * congestion S3 1.0656 10 Nov low R1 1.0800 congestion S4 1.0640 * 12 Oct high
Asterisk denotes strength of level
03:50 GMT - No follow-through on break of the 1.0756 support as prices unwind the oversold intraday and daily studies. Further losses likely to prove limited with support at the 1.0756/1.0695 area now protecting the downside. Losses from the Nov high are seen corrective and expected to give way to buying pressure later. Meanwhile, resistance is at the 1.0800/50 area and clearance here will see room for stronger recovery to 1.0850 congestion then the 1.0887/1.0900 resistance.