Published: 2025-01-16T08:52:09.000Z
Chart EUR/USD Update: Consolidating - daily studies rising
Senior Technical Strategist
2
Anticipated gains have met selling interest at 1.0350
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0436 | 6 Jan high | S1 | 1.0200 | ** | 61.8% ret of 2022-2023 rally | ||
| 14 | 1.0400 | ** | congestion | S2 | 1.0177 | * | 13 Jan YTD low | |
| R2 | 1.0350 | break level | S3 | 1.0100 | * | congestion | ||
| R1 | 1.0300 | minor congestion | S4 | 1.0000 | ** | congestion, figure |
Asterisk denotes strength of level
08:30 GMT - Anticipated gains have met selling interest at 1.0350, as overbought intraday studies unwind, with sharp losses giving way to fresh consolidation around 1.0300. Daily stochastics and the daily Tension Indicator continue to rise, highlighting room for a fresh test above here, with focus to turn back to 1.0350. Still higher is congestion around 1.0400, where fresh selling interest is expected to appear. Meanwhile, support remains down to the 1.0200 Fibonacci retracement and extends to the 1.0177 current year low of 13 January. Flattening oversold weekly stochastics should limit any initial tests of this area in consolidation.