Published: 2025-04-25T07:39:23.000Z
Chart EUR/USD Update: Cautious trade - studies under pressure
Senior Technical Strategist
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Little change, as prices extend cautious trade beneath congestion resistance at 1.1400
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1600 | congestion | S1 | 1.1275 | ** | July 2023 (y) high | ||
| 14 | 1.1573 | * | 21 Apr YTD high | S2 | 1.1250 | * | 38.2% ret of Mar-Apr rally | |
| R2 | 1.1500 | ** | break level | S3 | 1.1200 | * | congestion | |
| R1 | 1.1400 | * | congestion | S4 | 1.1155 | ** | 50% ret of Mar-Apr rally |
Asterisk denotes strength of level
08:30 BST - Little change, as prices extend cautious trade beneath congestion resistance at 1.1400. Intraday studies are turning mixed/negative and daily readings continue to track lower, suggesting any immediate break could be limited in renewed selling interest beneath 1.1500. Following cautious/corrective trade, fresh losses are looked for. A later break below support at 1.1275 will open up the 1.1250 Fibonacci retracement. However, rising weekly charts are expected to limit any deeper losses in buying interest towards congestion around 1.1200.