Published: 2026-01-29T01:20:57.000Z
Chart EUR/USD Update: Extend consolidation below 1.2083 high
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Lower in consolidation from the 1.2083 high as prices unwind overbought intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2266 | ** | May 2021 high | S1 | 1.1918/00 | * | 2025 yr high, congestion | |
| 14 | 1.2200 | * | congestion | S2 | 1.1833 | * | 23 Jan high, gap | |
| R2 | 1.2100/50 | * | congestion | S3 | 1.1800 | ** | congestion | |
| R1 | 1.2083 | ** | 27 Jan YTD high | S4 | 1.1768 | 20 Jan high |
Asterisk denotes strength of level
01:10 GMT - Lower in consolidation from the 1.2083 high as prices unwind overbought intraday studies. Daily chart are stretched as well and suggest room for corrective pullback to retrace recent strong gains from the 1.1576 low. However, this is expected to give way to fresh gains later and higher will see room for extension to 1.2100/1.2150 congestion and 1.2200 level. Meanwhile, support at the 1.1918/00 area should underpin. Would take break here to open up room for deeper correction to the 1.1833 gap area and 1.1800 congestion.