Chart EUR/USD Update: Smart bounce, but gains to remain limited
The break below 1.1450 has bounced smartly from just above strong support at the 1.1410 current year low of 13 Mar, with prices once again trading above 1.1450
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1650 | * | congestion | S1 | 1.1450 | * | congestion | |
| R3 | 1.1600 | ** | congestion | S2 | 1.1400/10 | ** | congestion; 13 Mar YTD low | |
| R2 | 1.1550 | * | congestion | S3 | 1.1355 | ** | 38.2% ret of 2025-2026 rally | |
| R1 | 1.1500 | ** | congestion | S4 | 1.1300 | ** | congestion |
*Asterisk denotes strength of level
10:20 BST - The break below 1.1450 has bounced smartly from just above strong support at the 1.1410 current year low of 13 Mar, with prices once again trading above 1.1450. Oversold intraday studies are unwinding, highlighting room for further tests higher. But negative daily and weekly charts should prompt renewed selling interest towards congestion resistance at 1.1500. Following cautious/corrective trade, fresh losses are looked for. A close below 1.1410 and congestion around 1.1400 will add weight to sentiment and extend January losses initially to the 1.1355 Fibonacci retracement.