Chart EUR/USD Update: Cautious trade
Little change, as prices extend consolidation beneath congestion resistance at 1.1400
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1550 | * | congestion | S1 | 1.1400 | * | congestion | |
| R3 | 1.1500 | ** | congestion | S2 | 1.1377 | * | 13 Jul (w) low | |
| R2 | 1.1482 | * | 15 Jul (w) high | S3 | 1.1355 | ** | 38.2% ret of 2025-2026 rally | |
| R1 | 1.1450 | * | congestion | S4 | 1.1325 | ** | 24 Jun YTD low |
*Asterisk denotes strength of level
08:35 BST - Little change, as prices extend consolidation beneath congestion resistance at 1.1400. Intraday studies are rising and the daily Tension Indicator is positive, suggesting room for a test above here. But a tick lower in overbought daily stochastics should limit initial scope in consolidation beneath the 1.1482 weekly high of 15 July, before rising weekly charts prompt further gains. A close above here will turn sentiment positive and extend late-June gains beyond congestion around 1.1500. Meanwhile, support is at congestion around 1.1400 and extends to the 1.1377 weekly low of 13 July. This range should underpin any immediate setbacks.