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Published: 2025-05-05T01:41:56.000Z

Chart EUR/USD Update: Consolidating above 1.1265 support

byPakLai Ng

Technical Analyst
3

Consolidating test of the 1.1265 support as prices unwind the oversold daily studies

 LevelsImpComment  LevelsImpComment
R41.1573**21 Apr YTD high S11.1265*1 May low
141.1500*figure S21.1200**congestion                  
R21.1474*11 Apr high S31.1145*3 Apr high
R11.1400/25*congestion. 28 Apr high S41.1000**congestion

Asterisk denotes strength of level

01:30 GMT - Consolidating test of the 1.1265 support as prices unwind the oversold daily studies. Bounce see resistance at the 1.1400/25 area which is expected to cap and sustain pullback from the 1.1573, April YTD high. Clearance, if seen, will open up room for stronger bounbce to the 1.1474/1.1500 resistance. Corrective bounce is expected to give way to fresh selling pressure later, below the 1.1265 support will seen room for deeper pullback to strong support at the 1.1200 congestion and extending to the 1.1145, 3rd April high.

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Topics
EUR/USD-TA
DM-Technical
Technical Analysis

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