Published: 2026-08-18T01:42:56.000Z
Chart EUR/USD Update: Still scope to extend gains
2
No follow-through on break above the 1.1600 level but pressure remains firmly on the upside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1750 | * | congestion | S1 | 1.1550 | * | congestion | |
| R3 | 1.1685 | * | 29 May high | S2 | 1.1500 | * | congestion | |
| R2 | 1.1655 | ** | 30 Apr low | S3 | 1.1482 | ** | 15 Jul high | |
| R1 | 1.1600 | * | congestion | S4 | 1.1450 | * | congestion |
Asterisk denotes strength of level
01:35 GMT - No follow-through on break above the 1.1600 level but pressure remains firmly on the upside following bounce from 1.1510 low of last week. Daily and weekly studies are tracking higher and suggest scope to further extend gains from the June current year low at 1.1325. Break above 1.1600 will see room to strong resistance at the 1.1655/1.1685 area and the 1.1700 level. Meanwhile, support is raised to the 1.1550 congestion. Only below here will see room for consolidation back to strong support at the 1.1500/1.1482 area expected to limit corrective pullback.