Chart EUR/USD Update: Pressuring the 1.1200 level
Still no follow-through on probes above the 1.1200 level but pressure building here and see scope for break to extend bounce from the 1.1105 current year low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1350 | * | congestion | S1 | 1.1150 | * | congestion | |
| R3 | 1.1325 | ** | Jun low | S2 | 1.1105 | ** | 29 Oct YTD low | |
| R2 | 1.1275 | * | 2023 year low | S3 | 1.1065 | * | May 2025 low | |
| R1 | 1.1200 | * | congestion | S4 | 1.1000 | ** | figure, congestion |
Asterisk denotes strength of level
01:25 GMT - Still no follow-through on probes above the 1.1200 level but pressure building here and see scope for break to extend bounce from the 1.1105, 29 October current year low. Break will open up room for stronger gains to retest resistance at the 1.1250/75 area. Above here will confirm a double bottom at the 1.1113/05 lows and see room for stronger recovery to retrace losses from the 1.1710 August high to strong resistance at the 1.1325/50, June/July lows. Meanwhile, support remain at the 1.1150 congestion which should underpin and sustain bounce from the 1.1113/05 lows.