Published: 2026-05-11T07:52:23.000Z
Chart EUR/USD Update: Cautious trade - studies improving
4
The anticipate test higher has met selling interest just beneath congestion resistance at 1.1800
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1900 | * | congestion | S1 | 1.1750 | congestion | ||
| R3 | 1.1850 | ** | congestion | S2 | 1.1700 | ** | congestion | |
| R2 | 1.1825 | ** | 61.8% ret of Jan-Mar fall | S3 | 1.1670 | ** | 23 Apr (w) low | |
| R1 | 1.1800 | ** | congestion | S4 | 1.1640 | ** | 23 Mar (w) high |
*Asterisk denotes strength of level
08:35 BST - The anticipate test higher has met selling interest just beneath congestion resistance at 1.1800, with prices currently balanced in cautious trade above congestion support at 1.1750. Daily readings are rising and broader weekly charts are showing early signs of improvement, highlighting room for further tests higher. But a close above the 1.1825 Fibonacci retracement is needed to turn sentiment positive and extend March gains initially towards congestion around 1.1850. Meanwhile, any immediate tests below 1.1750 should give way to renewed consolidation above further congestion around 1.1700.