Published: 2025-08-19T07:36:23.000Z
Chart EUR/USD Update: Cautious trade
Senior Technical Strategist
3
Still little change
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1900 | ** | Jul-Sep 2021 break level | S1 | 1.1600 | * | congestion | |
| R3 | 1.1830 | ** | 1 Jul YTD high | S2 | 1.1500 | ** | congestion | |
| R2 | 1.1750 | * | break level | S3 | 1.1400 | ** | congestion | |
| R1 | 1.1700 | * | congestion | S4 | 1.1360 | ** | 61.8% ret of May-Jul rally |
*Asterisk denotes strength of level
08:25 BST - Still little change, as prices extend cautious trade beneath congestion resistance at 1.1700. A tick higher in daily stochastics highlight potential for a test above here. But studies are already overbought and the rising daily Tension Indicator is flattening, suggesting any immediate break should be limited in renewed selling interest/consolidation towards 1.1750. Meanwhile, support remains at congestion around 1.1600. A test beneath here will add weight to sentiment and open up further congestion around 1.1500.