Published: 2025-05-05T01:41:56.000Z
Chart EUR/USD Update: Consolidating above 1.1265 support
Technical Analyst
2
Consolidating test of the 1.1265 support as prices unwind the oversold daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1573 | ** | 21 Apr YTD high | S1 | 1.1265 | * | 1 May low | |
| 14 | 1.1500 | * | figure | S2 | 1.1200 | ** | congestion | |
| R2 | 1.1474 | * | 11 Apr high | S3 | 1.1145 | * | 3 Apr high | |
| R1 | 1.1400/25 | * | congestion. 28 Apr high | S4 | 1.1000 | ** | 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.