Published: 2026-08-03T01:53:53.000Z
Chart EUR/USD Update: Consolidating opening gains, room for higher later
1
Edged higher at the opening to extend strong gains last week from the 1.1355 low to reach 1.1559 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1685 | ** | 29 May high | S1 | 1.1500 | * | congestion | |
| R3 | 1.1655 | ** | 30 Apr low | S2 | 1.1482 | ** | 15 Jul high | |
| R2 | 1.1600 | * | congestion | S3 | 1.1450 | * | congestion | |
| R1 | 1.1575 | ** | May low | S4 | 1.1410 | * | Mar low |
Asterisk denotes strength of level
01:50 GMT - Edged higher at the opening to extend strong gains last week from the 1.1355 low to reach 1.1559 high before settling lower in consolidation. Positive daily and weekly studies suggest scope for further gains later to further retrace losses from the April high. Nearby see strong resistance at the 1.1575 May low and the 1.1600 congestion. Higher still, will open up room to 1.1655/1.1685 area. Meanhile, support is raised to the 1.1500 congestion which extend to the 1.1482 mid-July high. This area should underpin and sustain bullish gains from the 1.1355 support.