Chart EUR/USD Update: Fresh 2025 year highs within 1.0970/00
Cautious trade around 1.0800 has given way to a sharp bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1100 | * | break level | S1 | 1.0900 | * | break level | |
| 14 | 1.1070 | * | break level | S2 | 1.0850 | break level | ||
| R2 | 1.1000 | ** | congestion | S3 | 1.0800 | * | break level | |
| R1 | 1.0970 | ** | 76.4% ret of Sep-Jan fall | S4 | 1.0732 | * | 27 Mar (w) low |
Asterisk denotes strength of level
08:30 BST - Cautious trade around 1.0800 has given way to a sharp bounce, with prices posting a fresh 2025 year high within strong resistance at the 1.0970 Fibonacci retracement and congestion around 1.1000. Intraday studies are flat in overbought areas, suggesting potential for short-term consolidation around here. But daily readings have ticked higher and broader weekly charts are positive, pointing to room for further strength in the coming sessions. A close above 1.0970/00 will improve sentiment and extend gains towards the 1.1070-1.1100 range. Meanwhile, support is raised to 1.0900 and extends to 1.0850. This range should underpin any immediate setbacks.