Published: 2026-04-08T01:53:20.000Z
Chart EUR/USD Update: Consolidating below 1.1700, room for higher
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Break above the 1.1600 level has seen follow-through above resistance at the 1.1640/1.1667 March highs and 200-day MA
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1850 | * | congestion | S1 | 1.1600 | * | congestion | |
| 14 | 1.1800 | ** | congestion | S2 | 1.1550 | * | congestion | |
| R2 | 1.1742/65 | ** | Feb lows | S3 | 1.1500 | * | congestion | |
| R1 | 1.1700 | * | congestion | S4 | 1.1443 | * | 30 Mar low |
Asterisk denotes strength of level
01:45 GMT - Break above the 1.1600 level has seen follow-through above resistance at the 1.1640/1.1667 March highs and 200-day MA to approach the 1.1700 level. Consolidation here see prices unwinding overbought intraday studies but this is expected to give way to renewed buying interest later. Daily studies are tracking higher and suggest scope for break here to open up room for stronger gains to retrace losses from the January high to strong resistance at 1.1742/65 February lows and the 1.1800 level. Meanwhile, support is raised to the 1.1600 level now expected to underpin.