Chart EUR/USD Update: Edging higher - gains to remain limited
Consolidation around 1.1355 is giving way to a push higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1550 | * | congestion | S1 | 1.1355 | ** | 38.2% ret of 2025-2026 rally | |
| R3 | 1.1500 | ** | congestion | S2 | 1.1325 | 24 Jun YTD low | ||
| R2 | 1.1450 | * | congestion | S3 | 1.1300 | ** | congestion | |
| R1 | 1.1400/10 | ** | congestion; 13 Mar (m) low | S4 | 1.1200 | ** | congestion |
*Asterisk denotes strength of level
08:35 BST - Consolidation around 1.1355 is giving way to a push higher, with focus turning to resistance at congestion around 1.1400 and the 1.1410 monthly low of 13 March. Rising intraday studies and a tick higher in oversold daily stochastics highlights room for a test. But the bearish daily Tension Indicator and negative weekly charts should limit any break in renewed selling interest/consolidation beneath congestion around 1.1450. Following cautious/corrective trade, fresh losses are looked for. Support is down to the 1.1325 current year low of 24 June. A break will add weight to sentiment and extend January losses initially towards congestion from March-May 2025 around 1.1300. Beneath here is further congestion around 1.1200.