Chart EUR/USD Update: Consolidating - studies under pressure
Still little change, as prices extend cautious trade following the anticipated test of congestion resistance at 1.1400
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1550 | * | congestion | S1 | 1.1355 | ** | 38.2% ret of 2025-2026 rally | |
| R3 | 1.1500 | * | congestion | S2 | 1.1325 | ** | 24 Jun YTD low | |
| R2 | 1.1450 | congestion | S3 | 1.1300 | ** | congestion | ||
| R1 | 1.1400 | ** | congestion | S4 | 1.1200 | ** | break level |
*Asterisk denotes strength of level
08:25 BST - Still little change, as prices extend cautious trade following the anticipated test of congestion resistance at 1.1400. Intraday studies are turning down, daily readings are mixed/negative and broader weekly charts are negative, suggesting room for fresh losses in the coming sessions. Support remains at the 1.1355 Fibonacci retracement and extends to the 1.1325 current year low of 24 June. A later close beneath here will add weight to sentiment and confirm continuation of broad January losses below 1.1300 towards 1.1200.
Meanwhile, a close above 1.1400, if seen, will open up further congestion around 1.1450, where fresh selling interest is expected to appear.