Published: 2025-05-21T01:05:28.000Z
Chart EUR/USD Update: Extending gains
Technical Analyst
3
Break above the 1.1265 resistance extending gains from the 1.1065 low to reach 1.1300/07 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1474 | * | 11 Apr high | S1 | 1.1200 | * | 2024 year high | |
| 14 | 1.1400/25 | * | congestion, 28 Apr high | S2 | 1.1145 | * | 3 Apr high | |
| R2 | 1.1381 | * | 6 May high | S3 | 1.1065 | ** | 12 May low | |
| R1 | 1.1300/07 | * | congestion, 3 Apr low | S4 | 1.1040 | * | 38.2% Jan/Apr rally |
Asterisk denotes strength of level
01:00 GMT - Break above the 1.1265 resistance extending gains from the 1.1065 low to reach resistance at the 1.1300/07 congestion. Daily studies are tracking higher and suggest scope for break here to further retrace losses from the 1.1573, April YTD high. Higher will see room for retest of strong resistance at the 1.1381/1.1425 area. Clearance here will return focus to the 1.1474 then 1.1573, 21 April YTD high. Meanwhile, support is raised to the 1.1200 congestion and 2024 year high which is expected to underpin and sustain gains from the 1.1065 low.