Published: 2025-08-08T01:32:48.000Z
Chart EUR/USD Update: Consolidating test of 1.1700
Technical Analyst
5
Settled back in consolidation from test of the 1.1700 level as prices unwind overbought intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1900 | * | congestion | S1 | 1.1600 | * | congestion | |
| 14 | 1.1830 | ** | 1 Jul YTD high | S2 | 1.1556 | * | 17 Jul low | |
| R2 | 1.1790/00 | * | 24 Jul high, congestion | S3 | 1.1500 | * | congestion | |
| R1 | 1.1700 | * | congestion | S4 | 1.1400 | ** | congestion |
Asterisk denotes strength of level
01:25 GMT - Settled back in consolidation from test of the 1.1700 level as prices unwind overbought intraday studies. Consolidation is expected to give way to further strength later as daily studies remains positive and suggest clearance cannot be ruled out. Clearance will expose the 1.1800 and 1.1830 highs to retest. Meanwhile, support is raised to the 1.1600/1.1556 area which should underpin. Break here will fade the upside pressure and open up room to the 1.1500 congestion. Below this will expose the 1.1400 low to retest.