Published: 2025-05-28T01:28:48.000Z
Chart EUR/USD Update: Room for deeper pullback from 1.1381/1.1425 resistance
Technical Analyst
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Test of the 1.1381/1.1425 resistance has given way to selling pressure as prices retrace gains from the 1.1065, 12 May low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1573 | ** | 21 Apr YTD high | S1 | 1.1307/00 | * | 23 Apr low, congestion | |
| 14 | 1.1474 | * | 11 Apr high | S2 | 1.1265 | * | congestion, 14 May high | |
| R2 | 1.1425 | * | 28 Apr high | S3 | 1.1200 | * | 2024 year high | |
| R1 | 1.1381 | * | 6 May high | S4 | 1.1130 | 16 May low |
Asterisk denotes strength of level
01:25 GMT - Test of the 1.1381/1.1425 resistance has given way to selling pressure as prices retrace gains from the 1.1065, 12 May low. Prices are unwinding overbought intraday and daily studies and suggest room for deeper corrective pullback to retest support at 1.1265 then the 1.1200 level and 2024 year high. Failure to hold the latter will return focus to the 1.1065 low. Meanwhile, resistance at the 1.1381/1.1425 highs expected to cap. Would take break here to revive the upside focus and see scope to retest the 1.1474 and 1.1573, April highs.