Published: 2025-07-07T01:47:02.000Z
Chart EUR/USD Update: Extending consolidation below 1.1830 high
Technical Analyst
3
Edged lower from the 1.1830 high as prices consolidate the broader gains from 1.1065, May low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2000/20 | ** | congestion, 38.2% 2008/2022 fall | S1 | 1.1707/00 | * | 30 Jun low, congestion | |
| 14 | 1.1900/10 | * | congestion, Sep 2021 high | S2 | 1.1631 | * | 12 Jun high | |
| R2 | 1.1850 | * | congestion | S3 | 1.1573 | ** | Apr high | |
| R1 | 1.1830 | ** | 1 Jul YTD high | S4 | 1.1500 | * | congestion |
Asterisk denotes strength of level
01:35 GMT - Edged lower from the 1.1830 high as prices consolidate the broader gains from 1.1065, May low. Daily studies are unwinding overbought readings and threatens pullback below support at the 1.1707/00 area. Break here will open up room for deeper correction to the strong support at 1.1631 and 1.1573, previous highs. Corrective trade expected to give way to renewed buying interest later. Break above the 1.1800 level and 1.1830 high will extend the gains from September 2022 low to the 1.1850 congestion and 1.1900/10 resistance.