Published: 2025-05-20T01:36:07.000Z
Chart EUR/USD Update: Retest 1.1265 resistance, room for higher
Technical Analyst
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Break above the 1.1200 level has seen gains to retest the 1.1265 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1400/25 | * | congestion, 28 Apr high | S1 | 1.1200 | * | 2024 year high | |
| 14 | 1.1381 | * | 6 May high | S2 | 1.1145 | * | 3 Apr high | |
| R2 | 1.1300/07 | * | congestion, 3 Apr low | S3 | 1.1065 | ** | 12 May low | |
| R1 | 1.1265 | ** | 1 May low | S4 | 1.1040 | * | 38.2% Jan/Apr rally |
Asterisk denotes strength of level
01:30 GMT - Break above the 1.1200 level has seen gains to retest the 1.1265 resistance. Daily studies are unwinding oversold readings and suggest scope for higher to extend bounce from the 1.1065 low and further retrace losses from the 1.1573, April YTD high. Higher will open up room for retest of the 1.1300 level then the strong resistance at the 1.1381/1.1425 area. Meanwhile, support is raised to the 1.1200 congestion and 2024 year high which is expected to underpin and sustain gains from the 1.1065 low.