Chart EUR/USD Update: Choppy in range - background studies under pressure
The break of 1.1400 has extended below the 1.1377 weekly low of 13 July to reach 1.1365~
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1500 | ** | congestion | S1 | 1.1377 | * | 13 Jul (w) low | |
| R3 | 1.1482 | ** | 15 Jul (w) high | S2 | 1.1365~ | 23 Jul low | ||
| R2 | 1.1450 | * | congestion | S3 | 1.1355 | ** | 38.2% ret of 2025-2026 rally | |
| R1 | 1.1400 | * | congestion | S4 | 1.1325 | ** | 24 Jun YTD low |
*Asterisk denotes strength of level
08:30 BST - The break of 1.1400 has extended below the 1.1377 weekly low of 13 July to reach 1.1365~, where rising intraday studies are prompting a bounce back to 1.1400. Daily readings are mixed/negative and broader weekly charts are under pressure, suggesting any tests back above here should be limited in renewed selling interest towards congestion around 1.1450. Following cautious/corrective trade, fresh losses are looked for. Support remains at 1.1377 and extends to the 1.1355 Fibonacci retracement. But a close below the 1.1325 current year low of 24 June will turn sentiment negative and confirm continuation of January losses.