Published: 2025-08-04T01:52:04.000Z
Chart EUR/USD Update: Back to pressure 1.1600 resistance
Technical Analyst
3
Sharp bounce from support at the 1.1400 congestion see prices returning to pressure the 1.1600 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1830 | ** | 1 Jul YTD high | S1 | 1.1500 | * | congestion | |
| 14 | 1.1790 | * | 24 Jul high | S2 | 1.1460 | * | 31 Jul high | |
| R2 | 1.1700 | * | congestion | S3 | 1.1400 | * | congestion | |
| R1 | 1.1600 | * | congestion | S4 | 1.1275 | ** | 2023 year high |
Asterisk denotes strength of level
01:40 GMT - Sharp bounce from support at the 1.1400 congestion see prices returning to pressure the 1.1600 level. Consolidation here see prices unwinding overbought intraday studies but potential is seen for break to revive the upside focus and open up room to the 1.1700 congestion. Clearance here will return focus to the 1.1790 and 1.1830 July highs. Meanwhile, support is raised to the 1.1500 congestion which should now underpin and sustain bounce from the 1.1400 support.