Published: 2026-05-01T07:52:32.000Z
Chart EUR/USD Update: Immediate gains to remain limited
-
Cautious trade has given way to a push higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.18505 | * | congestion | S1 | 1.1700 | ** | congestion | |
| R3 | 1.1825 | ** | 61.8% ret of Jan-Mar fall | S2 | 1.1670 | ** | 23 Apr (w) low | |
| R2 | 1.1800 | ** | congestion | S3 | 1.1640 | ** | 23 Mar (w) high | |
| R1 | 1.1760 | break level | S4 | 1.1600 | ** | congestion |
*Asterisk denotes strength of level
08:40 BST - Cautious trade has given way to a push higher, with prices currently consolidating around 1.1740. Rising intraday studies and a tick higher in daily stochastics highlights room for continuation towards 1.1760. However, the negative daily Tension Indicator and mixed weekly charts should limit any initial break above here in profit-taking towards strong resistance within congestion around 1.1800 and the 1.1825 Fibonacci retracement. Meanwhile, support is raised to congestion around 1.1700 and extends to the 1.1670 weekly low of 23 April. This range should underpin any immediate setbacks.