Published: 2025-10-23T01:35:08.000Z
Chart EUR/USD Update: Weighing on the 1.1600 level
1
No follow-through on break of the 1.1600 level but pressure remains on the downside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1800 | ** | congestion | S1 | 1.1600 | * | congestion | |
| 14 | 1.1778 | * | 1 Oct high | S2 | 1.1542 | ** | 9 Oct low | |
| R2 | 1.1700/28 | * | congestion, 17 Oct high | S3 | 1.1500 | * | congestion | |
| R1 | 1.1645 | * | 25 Sep low | S4 | 1.1400 | ** | Jul, Aug lows |
Asterisk denotes strength of level
01:30 GMT - No follow-through on break of the 1.1600 level but pressure remains on the downside and consolidation here expected to give way to renewed selling pressure. Negative daily and weekly studies suggest room for extension to retest the 1.1542 lows. Below here will see room for deeper pullback to retrace the January/September rally and see room to the 1.1500 congestion. Meanwhile, resistance at 1.1645 is expected to cap and sustain pullback from the 1.1728 Friday's high as well as the broader bearish structure from 1.1918, September current year high.