Published: 2026-08-17T07:43:33.000Z
Chart EUR/USD Update: Extending late-June gains
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Cautious trade has given way to fresh gains
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1700 | * | congestion | S1 | 1.1550 | * | congestion | |
| R3 | 1.1650 | ** | 61.8% ret of Apr-Jun fall | S2 | 1.1500 | ** | congestion | |
| R2 | 1.1620~ | * | 15 Jun (w) high | S3 | 1.1482 | ** | 15 Jul (w) high | |
| R1 | 1.1600 | * | congestion | S4 | 1.1450 | * | congestion |
*Asterisk denotes strength of level
08:30 BST - Cautious trade has given way to fresh gains, with prices currently pressuring resistance within congestion around 1.1600 and the 1.1620~ weekly high of 15 June. Flat overbought intraday studies could prompt fresh consolidation within here, before a tick higher in daily readings and positive weekly charts prompt a break. Late-June gains will then focus on the 1.1650 Fibonacci retracement, with room for continuation towards congestion around 1.1700.
Meanwhile, support is raised to congestion around 1.1550. A close beneath here, if seen, will turn sentiment neutral and give way to fresh consolidation within congestion above 1.1500.