Published: 2025-05-02T07:53:27.000Z
Chart EUR/USD Update: Limited tests higher
Senior Technical Strategist
2
Anticipated selling interest has extended to 1.1265
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1600 | congestion | S1 | 1.1265 | 1 May low | |||
| 14 | 1.1573 | * | 21 Apr YTD high | S2 | 1.1250 | * | 38.2% ret of Mar-Apr rally | |
| R2 | 1.1500 | ** | break level | S3 | 1.1200 | * | congestion | |
| R1 | 1.1400 | * | congestion | S4 | 1.1155 | ** | 50% ret of Mar-Apr rally |
Asterisk denotes strength of level
08:40 BST - Anticipated selling interest has extended to 1.1265, where rising intraday studies are prompting a bounce tp 1.1330. Oversold daily stochastics are also flattening, suggesting room for still higher levels. But the negative daily Tension Indicator and unwinding overbought weekly stochastics are expected to limit scope in renewed selling interest beneath congestion resistance at 1.1400. Following cautious trade, fresh losses are looked for. A break below 1.1265 will open up the 1.1250 Fibonacci retracement. A further break beneath here will extend April losses initially to congestion around 1.1200.