Published: 2025-05-22T01:11:18.000Z
Chart EUR/USD Update: Consolidating, room for higher later
Technical Analyst
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Break above resistance at 1.1265 and the 1.1300/07 area has seen gains to approach the 1.1381, May high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1573 | ** | 21 Apr YTD high | S1 | 1.1265 | * | congestion, 14 May high | |
| 14 | 1.1474 | * | 11 Apr high | S2 | 1.1200 | * | 2024 year high | |
| R2 | 1.1400/25 | * | congestion, 28 Apr high | S3 | 1.1145 | * | 3 Apr high | |
| R1 | 1.1381 | * | May high | S4 | 1.1065 | ** | 12 May low |
Asterisk denotes strength of level
01:10 GMT - Break above resistance at 1.1265 and the 1.1300/07 area has seen gains to approach the 1.1381, May high. Consolidation below this see prices unwinding overbought intraday studies while positive daily studies suggest this giving way to renewed buying interest later. Higher will see room for retest of strong resistance at the 1.1381/1.1425 area. Clearance here will return focus to the 1.1474 then 1.1573, 21 April YTD high. Meanwhile, support is raised to the 1.1265 congestion which is expected to underpin and sustain gains from the 1.1065 low.