Published: 2025-07-28T07:44:11.000Z
Chart EUR/USD Update: Under pressure
Senior Technical Strategist
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Choppy trade has given way to a sharp fall from 1.1750
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1900 | * | congestion | S1 | 1.1700 | * | congestion | |
| R3 | 1.1830 | ** | 1 Jul YTD high | S2 | 1.1600 | * | congestion | |
| R2 | 1.1800 | * | congestion | S3 | 1.1540 | * | 38.2% ret of May-Jul rally | |
| R1 | 1.1750 | * | break level | S4 | 1.1500 | ** | congestion |
*Asterisk denotes strength of level
08:30 BST - Choppy trade has given way to a sharp fall from 1.1750, as intraday studies come under pressure, with prices currently trading around congestion support at 1.1700. Daily readings have turned down and broader weekly charts are under pressure, highlighting room for further losses towards congestion support at 1.1600. A further break will open up the 1.1540 Fibonacci retracement. But positive longer-term readings are expected to limit any initial tests in consolidation. Meanwhile, a close back above 1.1750 will help to stabilise price action and prompt consolidation beneath congestion around 1.1800.