Published: 2025-05-19T01:06:10.000Z
Chart EUR/USD Update: Remains in consolidation below 1.1265 resistance
Technical Analyst
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Drifting narrowly below the 1.1200 level following pullback from test of the 1.1265 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1381 | * | 6 May high | S1 | 1.1145 | * | 3 Apr high | |
| 14 | 1.1307 | * | 23 Apr low | S2 | 1.1065 | ** | 12 May low | |
| R2 | 1.1265 | ** | 1 May low | S3 | 1.1040 | * | 38.2% Jan/Apr rally | |
| R1 | 1.1200/14 | * | congestion, 2024 year high | S4 | 1.1000 | * | congestion |
Asterisk denotes strength of level
01:00 GMT - Drifting narrowly below the 1.1200 level following pullback from test of the 1.1265 resistance. Daily studies have turned up from oversold readings and suggest scope to clear these to extend bounce from the 1.1065 low and further retrace losses from the 1.1573, April high. Higher will open up room for retest of the 1.1300 level then the 1.1381/1.1425 resistance area. Meanwhile, support at 1.1145 underpin. Break here, if seen, will expose the 1.1065 low to retest and where break will open up room for deeper pullback to retrace the January/April rally.