Chart EUR/USD Update: Consolidating below 1.1275 resistance
Little change, as prices extend consolidation above the 1.1200 level but bounce attempt kept in check at the 1.1275 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1410 | ** | Mar low | S1 | 1.1200 | * | congestion | |
| R3 | 1.1350 | * | congestion | S2 | 1.1150 | * | congestion | |
| R2 | 1.1325 | ** | Jun low | S3 | 1.1113 | ** | 14 Oct YTD low | |
| R1 | 1.1275 | * | 2023 year high | S4 | 1.1100 | * | congestion |
Asterisk denotes strength of level
01:25 GMT - Little change, as prices extend consolidation above the 1.1200 level but bounce attempt kept in check at the 1.1275 resistance. Daily studies have turned mixed and suggest consolidation below this likely to extend though a later break cannot be ruled out to retrace losses from the 1.1710, August high. Above the 1.1275 resistance will open up room for extension to strong resistance at the 1.1325/50 June/July lows where reaction can be expected. Meanwhile, support at the 1.1200/1.1150 congestion area should underpin. Failure here will expose 1.1113 low to retest and further retrace the 2025/2026 rally.