Chart EUR/USD Update: Fresh year lows - studies under pressure
Cautious trade around 1.1400/10 has given way to steady selling interest
| 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 | 1.1300 | ** | congestion | |
| R2 | 1.1450 | * | congestion | S3 | 1.1200 | ** | congestion | |
| R1 | 1.1400/10 | ** | congestion; 13 Mar (m) low | S4 | 1.1130 | ** | 50% ret of 2025-2026 rally |
*Asterisk denotes strength of level
08:35 BST - Cautious trade around 1.1400/10 has given way to steady selling interest, with prices currently trading at fresh year lows around strong support at the 1.1355 Fibonacci retracement. Daily readings are bearish and broader weekly charts are also falling, highlighting room for still further losses in the coming sessions. A close below 1.1355 will add weight to already bearish price action, and extend January losses towards congestion from March-May 2025 around 1.1300. Meanwhile, resistance is lowered to 1.1400/10. A close above here, if seen, would help to stabilise sentiment and prompt consolidation beneath congestion around 1.1420.