Published: 2026-05-04T01:47:29.000Z
Chart EUR/USD Update: Consolidating above 1.1700, room for higher later
1
Settled back from the 1.1785 Friday's spike high to consolidate above the 1.1700 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1900 | * | congestion | S1 | 1.1700 | congestion | ||
| 14 | 1.1850 | * | 17 Apr high, congestion | S2 | 1.1675 | * | 200-day MA | |
| R2 | 1.1800 | ** | congestion | S3 | 1.1640 | ** | 23 Mar high | |
| R1 | 1.1785 | * | 1 May high | S4 | 1.1600 | * | congestion |
Asterisk denotes strength of level
01:40 GMT - Settled back from the 1.1785 Friday's spike high to consolidate above the 1.1700 level. Bounce from the 1.1655 low last week suggest scope to further test of resistance at the 1.1785 high and the 1.1800 congestion. Close above this will expose the 1.1850 high to retest. Clearance here will further retrace the January/March losses and see room towards strong resistance at the 1.1900/30 area. Meanwhile, support is raised to the 1.1700 congestion. Only below here will expose the 200-day MA at 1.1675 and strong support at 1.1640 high of 23 March to retest.