Chart EUR/USD Update: Consolidating - any tests higher to remain limited
Little change, as prices extend cautious trade within the 1.1355 - 1.1400 range
| 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 | 1.1325 | ** | 24 Jun YTD low | |
| R2 | 1.1450 | congestion | S3 | 1.1300 | ** | congestion | ||
| R1 | 1.1400 | ** | congestion | S4 | 1.1200 | ** | break level |
*Asterisk denotes strength of level
08:40 BST - Little change, as prices extend cautious trade within the 1.1355 - 1.1400 range. Intraday studies are rising and oversold daily stochastics are flattening, suggesting a minor improvement in sentiment and room for a retest of congestion resistance at 1.1400. A break cannot be ruled out. But the bearish daily Tension Indicator and negative weekly charts should limit scope in renewed selling interest beneath further congestion around 1.1450.
Following cautious/corrective trade, fresh losses are looked for. Support remains at the 1.1355 Fibonacci retracement and extends to the 1.1325 current year low of 24 June. A later close beneath here will add weight to sentiment and confirm continuation of broad January losses below 1.1300 towards 1.1200.