Chart EUR/USD Update: Short-term consolidation
Anticipated selling interest has reached support at 1.1450
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1640 | * | 23 Mar high | S1 | 1.1450 | recent lows, congestion | ||
| R3 | 1.1600 | ** | congestion | S2 | 1.1400/10 | ** | congestion; 13 Mar YTD low | |
| R2 | 1.1550 | * | congestion | S3 | 1.1355 | ** | 38.2% ret of 2025-2026 rally | |
| R1 | 1.1500 | ** | congestion | S4 | 1.1300 | congestion |
*Asterisk denotes strength of level
08:35 BST - Anticipated selling interest has reached support at 1.1450, where unwinding oversold intraday studies are prompting short-term consolidation. A minor bounce is possible towards congestion resistance at 1.1500. But negative daily readings and mixed/negative weekly charts should limit any break in renewed selling interest towards further congestion around 1.1550. Following cautious/corrective trade, fresh losses are looked for. A later break below 1.1450 will open up critical support at congestion around 1.1400 and the 1.1410 current year low of 13 March. A further close beneath here will add weight to sentiment and extend late-January losses towards the 1.1355 Fibonacci retracement.