Published: 2025-08-07T01:36:18.000Z
Chart EUR/USD Update: Extend corrective gains
Technical Analyst
1
Consolidation below the 1.1600 level has given way to break to extend gains from the 1.1400 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1900 | * | congestion | S1 | 1.1600 | * | congestion | |
| 14 | 1.1830 | ** | 1 Jul YTD high | S2 | 1.1556 | * | 17 Jul low | |
| R2 | 1.1790/00 | * | 24 Jul high, congestion | S3 | 1.1500 | * | congestion | |
| R1 | 1.1700 | * | congestion | S4 | 1.1400 | ** | congestion |
Asterisk denotes strength of level
01:30 GMT - Consolidation below the 1.1600 level has given way to break to extend gains from the 1.1400 support. Intraday studies are stretched and suggest further gains should meet with selling pressure at the 1.1700 level. Clearance, but no expected will expose the 1.1800 and 1.1830 highs to retest. Meanwhile, support is raised to the 1.1600/1.1556 area should now underpin. Would take break here to return focus to the downside to the 1.1500 congestion. Below this will expose the strong support at 1.1400 to retest.