Published: 2024-12-18T02:01:55.000Z
Chart EUR/USD Update: Extend consolidation at the 1.0500 level
Technical Analyst
1
Little change, as prices extend consolidation around the 1.0500 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0665 | * | Jun low | S1 | 1.0448 | * | 2023 year low | |
| R3 | 1.0630 | * | 6 Dec high | S2 | 1.0425/00 | * | 26 Nov low, figure | |
| R2 | 1.0600/10 | ** | Apr low, congestion | S3 | 1.0331 | ** | 22 Nov YTD low | |
| R1 | 1.0550 | * | congestion | S4 | 1.0300 | * | congestion |
Asterisk denotes strength of level
02:00 GMT - Little change, as prices extend consolidation around the 1.0500 level following bounce from the 1.0448 support. Daily studies have turned mixed and suggest further ranging action here below the 1.0550 congestion. Clearance will open up room to the strong resistance at 1.0600 which extend to the 1.0630 high but this area is expected to cap. Break, if seen, will see stronger recovery to retrace losses from the September high. Meanwhile, support at 1.0448 now protecting the downside. Would take break here and the 1.0425/00 area to open up room for retest of the 1.0331, November YTD low.