Chart EUR/USD Update: Settled back in consolidation
Gave way to selling pressure below minor resistance at 1.1285 and break of the 1.1210/00 support has seen return to the 1.1161 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1450 | * | congestion | S1 | 1.1161 | ** | 5 Oct YTD low | |
| R3 | 1.1410 | ** | Mar low | S2 | 1.1130 | * | 50% 2025/2026 rally | |
| R2 | 1.1325/50 | ** | June low, congestion | S3 | 1.1100 | * | congestion | |
| R1 | 1.1285 | 2 Oct high | S4 | 1.1065 | * | May 2025 low |
Asterisk denotes strength of level
01:25 GMT - Gave way to selling pressure below minor resistance at 1.1285 and break of the 1.1210/00 support has seen return to the 1.1161 low. Daily studies remains stretched and suggest the latter may hold firm as prices unwind oversold readings. Failure here will open up room for extension to the nearby 1.1130 Fibonacci retracement and 1.1100 level. Meanwhile, resistance remains at the 1.1285/1.1300 area. Would need lift over this to open up room for stronger bounce to strong resistance at the 1.1325/50, June low and congestion area. Above here, will see scope to the 1.1410 March low.