Published: 2025-10-30T08:49:36.000Z
Chart EUR/USD Update: Consolidating test of 1.1600 - studies deteriorating
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The anticipated test of congestion support at 1.1600 has extended to 1.1575
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1820 | * | 23 Sep (w) high | S1 | 1.1600 | * | congestion | |
| R3 | 1.1800 | * | congestion | S2 | 1.1542 | ** | 9 Oct (w) low | |
| R2 | 1.1728 | 17 Oct (w) high | S3 | 1.1500 | ** | congestion | ||
| R1 | 1.1700 | * | congestion | S4 | 1.1400 | ** | cong, Jul-Aug (m) lows |
*Asterisk denotes strength of level
08:30 GMT - The anticipated test of congestion support at 1.1600 has extended to 1.1575, before bouncing sharply into consolidation above 1.1600. Intraday studies are mixed, suggesting room for further consolidation, before deteriorating daily readings and negative weekly charts prompt further losses. A close below 1.1600 would add weight to sentiment and open up strong support at the 1.1542 weekly low of 9 October. A close beneath here would turn sentiment negative extend mid-September losses initially to 1.1500. Meanwhile, resistance remains up to congestion around 1.1700 and should cap any immediate tests higher.