Published: 2025-05-13T07:40:26.000Z
Chart EUR/USD Update: Consolidating losses - background under pressure
Senior Technical Strategist
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Selling interest has reached 1.1065
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1425 | ** | 28 Apr (w) high | S1 | 1.1050 | ** | 61.8% ret of Mar-Apr rally | |
| 14 | 1.1400 | * | congestion | S2 | 1.1000 | ** | congestion | |
| R2 | 1.1280/00 | * | congestion | S3 | 1.0930 | ** | 76.4% ret of Mar-Apr rally | |
| R1 | 1.1200 | * | congestion | S4 | 1.0900 | ** | congestion |
Asterisk denotes strength of level
08:30 BST - Selling interest has reached 1.1065, where rising intraday studies are prompting a minor bounce back above 1.1100. Oversold daily stochastics are also flattening, suggesting room for further gains. But the bearish daily Tension Indicator and deteriorating weekly charts are expected to limit scope in renewed selling interest beneath congestion resistance at 1.1200. Following corrective trade, fresh losses are looked for. But a close below support at the 1.1050 Fibonacci retracement is needed to turn sentiment negative and extend April losses towards congestion around 1.1000.