Published: 2025-04-11T07:59:52.000Z
Chart EUR/USD Update: Trading at February 2022 levels
Senior Technical Strategist
2
Cautious trade has given way to sharp gains
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1685 | ** | 76.4% ret of 2021-2022 rally | S1 | 1.1275 | ** | July 2023 (y) high | |
| 14 | 1.1600 | congestion | S2 | 1.1200 | ** | congestion | ||
| R2 | 1.1500 | ** | break level | S3 | 1.1100 | * | break level | |
| R1 | 1.1400 | * | congestion | S4 | 1.1000 | * | congestion |
Asterisk denotes strength of level
08:45 BST - Cautious trade has given way to sharp gains, with the break above the 1.1275 year high of July 2023 improving sentiment and putting focus on congestion from early 2022 around 1.1400. Daily readings continue to rise and broader weekly charts are positive, highlighting potential for further strength in the coming sessions. A break above here will extend September 2022 gains towards 1.1500. Beyond here is the 1.1685 Fibonacci retracement. Meanwhile, support is at 1.1275 and extends to 1.1200. A break beneath this range, if seen, will turn sentiment neutral and prompt consolidation above support at the 1.1100 break level.