Chart EUR/USD Update: Poised to extend late-June gains
Little change, as prices extend cautious trade beneath resistance at congestion around 1.1700 and the 1.1725 Fibonacci retracement
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1800 | ** | break level | S1 | 1.1620~ | * | 15 Jun (w) high | |
| R3 | 1.1750 | * | congestion | S2 | 1.1600 | * | congestion | |
| R2 | 1.1725 | ** | 76.4% ret of Apr-Jun fall | S3 | 1.1550 | * | congestion | |
| R1 | 1.1700 | * | congestion | S4 | 1.1500 | ** | congestion |
*Asterisk denotes strength of level
08:25 BST - Little change, as prices extend cautious trade beneath resistance at congestion around 1.1700 and the 1.1725 Fibonacci retracement. Daily readings have ticked higher and broader weekly charts continue to rise, highlighting room for further gains in the coming sessions. A close above 1.1725 will further improve sentiment and extend late-June gains initially towards congestion within the 1.1750 - 1.1800 range.
Meanwhile, support remains at the 1.1620~ weekly high of 15 June and congestion around 1.1600. A close beneath here, if seen, will turn sentiment neutral and give way to consolidation within congestion above 1.1550.