Published: 2025-04-02T07:40:43.000Z
Chart EUR/USD Update: Prices remain under pressure
Senior Technical Strategist
3
Cautious trade is giving way to a drift lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0954 | 18 Mar YTD high | S1 | 1.0732 | * | 27 Mar (w) low | ||
| 14 | 1.0900 | * | break level | S2 | 1.0655 | ** | 38.2% ret of Jan-Mar rally | |
| R2 | 1.0850 | break level | S3 | 1.0600 | ** | congestion | ||
| R1 | 1.0800 | * | break level | S4 | 1.0565 | ** | 50% ret of Jan-Mar rally |
Asterisk denotes strength of level
08:30 BST - Cautious trade is giving way to a drift lower, with prices currently balanced below 1.0800. Intraday studies are mixed/negative and daily readings have turned bearish once again, suggesting a deterioration in sentiment and room for fresh losses in the coming sessions. Focus is turning to the 1.0732 weekly low of 27 March, but mixed/positive weekly charts could prompt fresh consolidation around here. Further slippage, however, will add weight to sentiment and extend March losses towards the 1.0655 Fibonacci retracement. Meanwhile, a close back above 1.0800 will stabilise price action and prompt fresh consolidation beneath 1.0850.