Published: 2025-07-29T01:40:41.000Z
Chart EUR/USD Update: Weighing on 1.1600/1.1573 support, break in focus
Technical Analyst
2
Consolidation below the 1.1800 level has given way to sharp pullback through the 1.1700 level to retest support at 1.1600/1.1573
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2000 | ** | congestion | S1 | 1.1700 | * | congestion | |
| 14 | 1.1900/10 | * | congestion, Sep 2021 high | S2 | 1.1600 | * | congestion | |
| R2 | 1.1830 | ** | 1 Jul YTD high | S3 | 1.1573 | ** | Apr high | |
| R1 | 1.1800 | * | figure | S4 | 1.1445 | * | 19 Jun low |
Asterisk denotes strength of level
01:35 GMT - Consolidation below the 1.1800 level has given way to sharp pullback through the 1.1700 level to retest support at 1.1600/1.1573. Daily studies are unwinding overbought reading and suggest the latter giving way to break to extend losses from the 1.1830, 1st July high. Lower will see room to the 1.1500 level then the strong support at 1.1445/1.1400 congestion. Meanwhile, resistance is lowered to 1.1700 level which should cap and sustain losses from the 1.1800/30 highs.