Chart EUR/USD Update: Pushing higher, but gains to remain limited
Little change, as prices extend pressure on resistance at 1.1200
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1400 | ** | congestion | S1 | 1.1150~ | ** | 12 Oct YTD low | |
| R3 | 1.1325 | ** | 24 Jun (m) low | S2 | 1.1130 | ** | 50% ret of 2025-2026 rally | |
| R2 | 1.1280/00 | ** | break level; congestion | S3 | 1.1100 | figure | ||
| R1 | 1.1200 | ** | break level | S4 | 1.1065 | ** | 12 May (m) low |
*Asterisk denotes strength of level
08:25 BST - Little change, as prices extend pressure on resistance at 1.1200. Daily stochastics and the daily Tension Indicator continue to rise, highlighting room for a test above here towards congestion around 1.1250. However, negative weekly charts should limit any further gains in renewed consolidation beneath strong resistance within 1.1280 - 1.1300.
Following cautious/corrective trade, fresh losses are looked for. Support remains at the 1.1150 current year low of 12 October. A later break will open up the 1.1130 Fibonacci retracement. A further close beneath here will turn sentiment negative and confirm continuation of broad January losses.