Chart EUR/USD Update: Gains to remain limited
Consolidation above congestion support at 1.1400 and the 1.1410~ current year low of 13 March has given way to a bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1700 | break level | S1 | 1.1500 | ** | congestion | ||
| R3 | 1.1665~ | * | 10 Mar (w) high | S2 | 1.1400/10 | * | cong; 13 Mar YTD low | |
| R2 | 1.1600 | ** | congestion | S3 | 1.1355 | ** | 38.2% ret of 2025-2026 rally | |
| R1 | 1.1550 | * | congestion | S4 | 1.1300 | * | congestion |
*Asterisk denotes strength of level
08:30 GMT - Consolidation above congestion support at 1.1400 and the 1.1410~ current year low of 13 March has given way to a bounce, with prices currently balanced in fresh consolidation above 1.1500. Oversold daily stochastics are turning higher and the bearish daily Tension Indicator is flattening, highlighting room for continuation towards congestion resistance at 1.1550. But bearish weekly and longer-term charts should limit any break above here in renewed selling interest beneath further congestion around 1.1600. Following cautious/corrective trade, fresh losses are looked for. A break below congestion support at 1.1500 will add weight to sentiment. But a further close below 1.1400/10 will turn sentiment negative and extend late-January losses towards the 1.1355 Fibonacci retracement. Still lower is congestion around 1.1300.