Chart EUR/USD Update: Any gains to remain limited
Cautious trade above support at the 1.1355 Fibonacci retracement and the 1.1365~ weekly low of 23 July has given way to a bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1500 | ** | congestion | S1 | 1.1365~ | * | 23 Jul (w) low | |
| R3 | 1.1482 | ** | 15 Jul (w) high | S2 | 1.1355 | ** | 38.2% ret of 2025-2026 rally | |
| R2 | 1.1450 | * | congestion | S3 | 1.1325 | ** | 24 Jun YTD low | |
| R1 | 1.1400 | * | congestion | S4 | 1.1300 | ** | congestion |
*Asterisk denotes strength of level
08:30 BST - Cautious trade above support at the 1.1355 Fibonacci retracement and the 1.1365~ weekly low of 23 July has given way to a bounce, with prices currently pressuring congestion resistance at 1.1400. Rising intraday studies highlight room for a retest above here. But mixed/negative daily readings and deteriorating weekly charts should limit scope in renewed selling interest towards further congestion around 1.1450. Following cautious trade, fresh losses are looked for. Support remains at 1.1355/65. But a close below the 1.1325 current year low of 24 June will turn sentiment negative and confirm continuation of January losses.