Chart EUR/USD Update: Under pressure
Cautious trade is giving way to anticipated selling interest
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1550 | * | congestion | S1 | 1.1355 | ** | 38.2% ret of 2025-2026 rally | |
| R3 | 1.1500 | * | congestion | S2 | 1.1325 | ** | 24 Jun YTD low | |
| R2 | 1.1450 | congestion | S3 | 1.1300 | ** | congestion | ||
| R1 | 1.1400 | ** | congestion | S4 | 1.1200 | ** | break level |
*Asterisk denotes strength of level
08:25 BST - Cautious trade is giving way to anticipated selling interest, with prices currently pressuring support at the 1.1355 Fibonacci retracement. Negative intraday studies highlight room for a break towards critical support at the 1.1325 current year low of 24 June. However, flat oversold daily stochastics could limit any initial tests in fresh consolidation, before the bearish daily Tension Indicator and negative weekly charts prompt a break. A later close beneath here will add weight to sentiment and confirm continuation of broad January losses below 1.1300 towards 1.1200.
Meanwhile, resistance remains at congestion around 1.1400. A close above here, not seen, will open up further congestion around 1.1450, where fresh selling interest is expected to appear.