Published: 2025-03-24T08:43:03.000Z
Chart EUR/USD Update: Consolidating
Senior Technical Strategist
1
Little change, as prices extend cautious trade above support at 1.0800
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1000 | ** | break level | S1 | 1.0800 | * | break level | |
| 14 | 1.0970 | ** | 76.4% ret of Sep-Jan fall | S2 | 1.0765 | * | 6 Mar low | |
| R2 | 1.0954 | 18 Mar YTD high | S3 | 1.0655 | ** | 38.2% ret of Jan-Mar rally | ||
| R1 | 1.0900 | * | break level | S4 | 1.0600 | ** | congestion |
Asterisk denotes strength of level
08:30 GMT - Little change, as prices extend cautious trade above support at 1.0800. Oversold intraday studies are unwinding, highlighting potential for a minor test higher. But negative daily readings are expected to limit initial scope in renewed selling interest beneath 1.0900. Meanwhile, support is strong down to the 1.0765 low of 6 March. A break beneath here, if seen, will turn sentiment negative, and prompt a deeper correction towards the 1.0655 Fibonacci retracement. Rising weekly charts are expected to promote fresh buying interest towards here.