Published: 2026-08-04T01:46:46.000Z
Chart EUR/USD Update: Consolidating, room for higher later
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Settled back from the 1.1559 high as prices consolidate strong gains from the 1.1355 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1685 | ** | 29 May high | S1 | 1.1500 | * | congestion | |
| R3 | 1.1655 | ** | 30 Apr low | S2 | 1.1482 | ** | 15 Jul high | |
| R2 | 1.1600 | * | congestion | S3 | 1.1450 | * | congestion | |
| R1 | 1.1575 | ** | May low | S4 | 1.1410 | * | Mar low |
Asterisk denotes strength of level
01:40 GMT - Settled back from the 1.1559 high as prices consolidate strong gains from the 1.1355 support. Daily studies are unwinding overbought readings and see scope for break of 1.1500 to open up room for deeper pullback to support at the 1.1482 mid-July high and 1.1450 congestion area. Positive weekly studies suggest correction giving way to further gains later to retrace losses from the April high. Above 1.1559 will see room to strong resistance at the 1.1575 May low and the 1.1600 congestion. Higher still, will open up room to 1.1655/1.1685 area.