Published: 2025-08-15T07:42:11.000Z
Chart EUR/USD Update: Consolidating in range
Senior Technical Strategist
2
Cautious trade beneath 1.1700 has given way to a pullback
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1900 | ** | Jul-Sep 2021 break level | S1 | 1.1600 | * | congestion | |
| R3 | 1.1830 | ** | 1 Jul YTD high | S2 | 1.1500 | ** | congestion | |
| R2 | 1.1750 | * | break level | S3 | 1.1400 | ** | congestion | |
| R1 | 1.1700 | * | congestion | S4 | 1.1360 | ** | 61.8% ret of May-Jul rally |
*Asterisk denotes strength of level
08:35 BST - Cautious trade beneath 1.1700 has given way to a pullback, with prices reaching 1.1630 before bouncing into fresh consolidation around 1.1670. Rising daily stochastics are now overbought and the positive daily Tension Indicator is showing early signs of flattening, suggesting any immediate tests back above congestion resistance at 1.1700 should meet renewed selling interest towards 1.1750. Following cautious trade, negative weekly charts highlight fresh losses. A later break below congestion support at 1.1600 will add weight to sentiment and initially target further congestion around 1.1500.