Published: 2026-05-07T07:46:54.000Z
Chart EUR/USD Update: Edging higher
1
Anticipated gains have been pushed back from congestion resistance at 1.1800
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1850 | ** | congestion | S1 | 1.1700 | ** | congestion | |
| R3 | 1.1825 | ** | 61.8% ret of Jan-Mar fall | S2 | 1.1670 | ** | 23 Apr (w) low | |
| R2 | 1.1800 | ** | congestion | S3 | 1.1640 | ** | 23 Mar (w) high | |
| R1 | 1.1760 | break level | S4 | 1.1600 | ** | congestion |
*Asterisk denotes strength of level
08:30 BST - Anticipated gains have been pushed back from congestion resistance at 1.1800, with prices currently trading around 1.1760. Daily readings are improving, highlighting room for a retest of 1.1800. Just higher is the 1.1825 Fibonacci retracement. But mixed weekly charts could limit any immediate tests in consolidation. A close above 1.1825 will improve price action and extend March gains initially towards congestion around 1.1850. Meanwhile, support remains down to congestion around 1.1700 and should underpin any immediate setbacks.