Chart EUR/USD Update: Cautious trade - background studies under pressure
Little change, as prices extend consolidation within the 1.1500 - 1.1550 range
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1665 | * | 38.2% ret of Jan-Mar fall | S1 | 1.1500 | ** | congestion | |
| R3 | 1.1640 | ** | 23 Mar (w) high | S2 | 1.1450 | * | recent lows, congestion | |
| R2 | 1.1600 | ** | congestion | S3 | 1.1400/10 | ** | congestion; 13 Mar YTD low | |
| R1 | 1.1550 | * | congestion | S4 | 1.1355 | ** | 38.2% ret of 2025-2026 rally |
*Asterisk denotes strength of level
08:35 BST - Little change, as prices extend consolidation within the 1.1500 - 1.1550 range. Daily readings are mixed, highlighting a cautious tone and room for further consolidation in the coming sessions. However, weekly charts are mixed/negative and longer-term charts are under pressure, highlighting room for later losses. A later break below congestion support at 1.1500 will open up 1.1450. However, a further close below the 1.1410 current year low of 13 March is needed to turn sentiment negative and confirm continuation of late-January losses, initially to the 1.1355 Fibonacci retracement. Meanwhile, any tests above congestion resistance at 1.1550 should meet renewed selling interest beneath further congestion around 1.1600.