Published: 2025-03-28T01:18:05.000Z
Chart EUR/USD Update: Smart bounce to 1.0800/22 resistance
Technical Analyst
3
Saw rebound from the 1.0732 low and 200-day MA to retest resistance at the 1.0800/22 area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1000 | ** | Sep low | S1 | 1.0732/30 | * | 27 Mar low, 38.2% | |
| R3 | 1.0950/54 | ** | Jul high, 18 Mar YTD high | S2 | 1.0700 | * | congestion | |
| R2 | 1.0900 | * | congestion | S3 | 1.0665/60 | * | Jun low, 50% | |
| R1 | 1.0800/22 | * | congestion, 13 Mar low | S4 | 1.0600 | ** | Apr low, congestion |
Asterisk denotes strength of level
01:10 GMT - Saw rebound from the 1.0732 low and 200-day MA to retest resistance at the 1.0800/22 area. Would take break here to return focus to the upside and see scope for retest of the 1.0900 congestion. Beyond this will turn focus to the 1.0950/54, resistance and 18 Mar YTD high. Clearance here will see scope to strong resistance at 1.1000 fogure, though potential would turn to the 1.1200 high. Meanwhile, support at the 1.0732/30 low and 38.2% Fibonacci level should underpin. Failure here will open up room for deeper correction to 1.0665/60, June low and 50% Fibonacci level.