Chart EUR/USD Update: Gains to remain limited
Consolidation around congestion support at 1.1400 has given way to the anticipated bounce to congestion around 1.1450
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1600 | ** | congestion | S1 | 1.1400 | * | congestion | |
| R3 | 1.1550 | * | congestion | S2 | 1.1355 | ** | 38.2% ret of 2025-2026 rally | |
| R2 | 1.1500 | ** | congestion | S3 | 1.1325 | ** | 24 Jun YTD low | |
| R1 | 1.1450 | * | congestion | S4 | 1.1300 | ** | congestion |
*Asterisk denotes strength of level
08:40 BST - Consolidation around congestion support at 1.1400 has given way to the anticipated bounce to congestion around 1.1450, where overbought intraday studies are prompting fresh consolidation. Both daily stochastics and the daily Tension Indicator continue to rise, highlighting room for a fresh test above here. But negative weekly charts should limit scope in renewed selling interest beneath further congestion around 1.1500. Meanwhile, support remains at congestion around 1.1400. Any immediate tests beneath here should be limited in fresh consolidation above the 1.1355 Fibonacci retracement.