Published: 2025-05-06T01:35:21.000Z
Chart EUR/USD Update: Extend consolidation above 1.1265, scope for break later
Technical Analyst
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Little change, as prices extend consolidation above the 1.1265 support
| 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 | 1.1040 | * | 38.2% Jan/Apr rally |
Asterisk denotes strength of level
01:30 GMT - Little change, as prices extend consolidation above the 1.1265 support. However, losses from the April YTD high at 1.1573 weighs and suggest scope for break to trigger deep pullback to retrace the January/April rally. Lower will see room to the strong support at the 1.1200 congestion which extend to the 1.1145, 3rd April high. Meanwhile, resistance remains at the 1.1400/25 area and this is expected to cap and sustain losses from the 1.1573 high. Clearance will return focus to the upside for retest of the 1.1500 figure and the latter.