Chart EUR/USD Update: Marginal fresh year low - studies under pressure
Anticipated selling interest has tested below support at the 1.1130 Fibonacci retracement to post a fresh year low around 1.1113
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1300 | ** | congestion | S1 | 1.1130 | ** | 50% ret of 2025-2026 rally | |
| R3 | 1.1270/80 | ** | 16 Oct (w) high; break level | S2 | 1.1113/15 | ** | 14-28 Oct YTD low | |
| R2 | 1.1250 | congestion tops | S3 | 1.1065 | ** | 12 May (m) low | ||
| R1 | 1.1200 | ** | break level | S4 | 1.1000 | ** | congestion |
*Asterisk denotes strength of level
08:30 GMT - Anticipated selling interest has tested below support at the 1.1130 Fibonacci retracement to post a fresh year low around 1.1113. Oversold intraday studies are prompting short-term consolidation within the 1.1113/15 - 1.1130 range. But daily readings continue to track lower and broader weekly charts are under pressure, highlighting room for further losses in the coming sessions. A close beneath here will add weight to already bearish price action and extend January losses, initially to the 1.1065 monthly low of 12 May.
Meanwhile, resistance remains at the 1.1200 break level. A close above here, if seen, would help to stabilise price action and prompt range extension beneath 1.1250.