Published: 2025-04-24T07:51:09.000Z
Chart EUR/USD Update: Prices remain under pressure
Senior Technical Strategist
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The anticipated break below 1.1400 has reached 1.1310
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1600 | congestion | S1 | 1.1275 | ** | July 2023 (y) high | ||
| 14 | 1.1573 | * | 21 Apr YTD high | S2 | 1.1250 | * | 38.2% ret of Mar-Apr rally | |
| R2 | 1.1500 | ** | break level | S3 | 1.1200 | * | congestion | |
| R1 | 1.1400 | * | congestion | S4 | 1.1155 | ** | 50% ret of Mar-Apr rally |
Asterisk denotes strength of level
08:35 BST - The anticipated break below 1.1400 has reached 1.1310, where rising intraday studies are prompting a bounce back towards congestion resistance at 1.1400. Daily readings continue to track lower, however, suggesting any immediate break could be limited in renewed selling interest beneath 1.1500. Following cautious/corrective trade, fresh losses are looked for. A later break below 1.1275 will open up the 1.1250 Fibonacci retracement. However, rising weekly charts are expected to limit any deeper losses in buying interest towards congestion around 1.1200.