Published: 2026-05-20T07:40:40.000Z
Chart EUR/USD Update: Leaning lower
1
Cautious trade has given way to anticipated tests lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1800 | ** | congestion | S1 | 1.1600 | ** | congestion | |
| R3 | 1.1750 | congestion | S2 | 1.1550 | * | congestion | ||
| R2 | 1.1700 | ** | congestion | S3 | 1.1500 | ** | congestion | |
| R1 | 1.1655 | ** | 30 Apr (w) low | S4 | 1.1450 | * | congestion |
*Asterisk denotes strength of level
08:35 BST - Cautious trade has given way to anticipated tests lower, as intraday studies remain under pressure, with prices currently pressuring congestion support at 1.1600. Oversold daily stochastics are flat, suggesting room for further range trade around here, before the bearish daily Tension Indicator and deteriorating weekly charts prompt fresh losses. A close beneath here will add weight to sentiment and extend mid-April losses towards further congestion around 1.1550. Meanwhile, resistance remains at the 1.1655 weekly low of 30 April. A close above here, if seen, should give way to consolidation beneath 1.1700.