Chart EUR/USD Update: Sharp pullback
The anticipated test above congestion resistance at 1.1600 has been pushed back from 1.1625 in sharp selling interest
| 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 - The anticipated test above congestion resistance at 1.1600 has been pushed back from 1.1625 in sharp selling interest, with prices currently approaching congestion support at 1.1500. Rising daily readings and unwinding oversold weekly stochastics suggest any initial tests beneath here could give way to consolidation above 1.1450. However, the bearish weekly Tension Indicator and negative longer-term charts point to room for a later break and continuation of January losses below the 1.1410 current year low of 13 March. Meanwhile, a close back above 1.1550 will open up 1.1600, where fresh consolidation is expected to appear.