Chart EUR/USD Update: Higher in range
Minor consolidation has given way to the anticipated break above 1.1200
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1340 | ** | 38.2% ret of Aug-Oct fall | S1 | 1.1200 | ** | break level | |
| R3 | 1.1325 | ** | 24 Jun (m) low | S2 | 1.1150 | congestion | ||
| R2 | 1.1270 | ** | 16 Oct (w) high | S3 | 1.1130 | ** | 50% ret of 2025-2026 rally | |
| R1 | 1.1250 | congestion tops | S4 | 1.1100/05 | ** | congestion; 29 Oct YTD low |
*Asterisk denotes strength of level
08:35 GMT - Minor consolidation has given way to the anticipated break above 1.1200, with prices approaching resistance at 1.1250. Just higher is the 1.1270 weekly high of 16 October. However, overbought intraday studies are flattening, suggesting any immediate tests of this range could give way to consolidation, before improving daily readings and a tick higher in oversold weekly stochastics prompt a break. A close above 1.1270 will improve sentiment and extend late-October gains initially towards the 1.1325 - 1.1340 range.
Meanwhile, support is raised to 1.1200. A close back beneath here, if seen, will turn sentiment neutral and prompt fresh range extension above the 1.1105 current year low of 29 October.