Published: 2025-11-07T01:24:16.000Z
Chart EUR/USD Update: Room to extend corrective bounce
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Consolidation above the 1.1470 low has given way to bounce to retest previous lows at 1.1542
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1700/30 | ** | congestion, 6 Oct high | S1 | 1.1470 | * | 5 Nov low | |
| 14 | 1.1645 | * | 25 Sep low | S2 | 1.1400 | ** | Jul, Aug lows | |
| R2 | 1.1600 | * | congestion | S3 | 1.1350 | * | congestion | |
| R1 | 1.1542 | * | 9 Oct low | S4 | 1.1250 | * | 38.2% Jan/Sep rally |
Asterisk denotes strength of level
01:15 GMT - Consolidation above the 1.1470 low has given way to bounce to retest previous lows at 1.1542. Intraday and daily studies have turned up to unwind oversold readings and suggest room for stronger gains to correct losses from above the 1.1700 high. Higher will see room to the 1.1600 congestion and resistance at 1.1645 low of 25 September. Meanwhile, support at the 1.1470 low now underpin. Would take break here to see deeper pullback to retest strong support at 1.1400/1.1390, July/August lows.