Published: 2026-06-04T07:47:02.000Z
Chart EUR/USD Update: Room for lower
2
The drift lower has reached congestion support at 1.1600
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1800 | ** | congestion | S1 | 1.1600 | ** | congestion | |
| R3 | 1.1750 | congestion | S2 | 1.1550 | * | congestion | ||
| R2 | 1.1700 | ** | congestion | S3 | 1.1500 | ** | congestion | |
| R1 | 1.1655 | ** | 30 Apr (w) low | S4 | 1.1450 | * | congestion |
*Asterisk denotes strength of level
08:30 BST - The drift lower has reached congestion support at 1.1600, where oversold intraday studies are prompting consolidation. Daily readings have turned down and broader weekly charts are mixed/negative, highlighting room for a later break. A close beneath here will add weight to sentiment and extend mid-April losses initially towards further congestion around 1.1550. Bearish longer-term charts point to room for still deeper losses. Meanwhile, resistance remains at 1.16550. A close above here, if seen, would help to stabilise sentiment and prompt consolidation beneath 1.1700.