Published: 2025-03-25T08:36:07.000Z
Chart EUR/USD Update: Leaning lower
Senior Technical Strategist
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Cautious trade above 1.0800 is giving way to a break
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0970 | ** | 76.4% ret of Sep-Jan fall | S1 | 1.0765 | * | 6 Mar low | |
| 14 | 1.0954 | 18 Mar YTD high | S2 | 1.0655 | ** | 38.2% ret of Jan-Mar rally | ||
| R2 | 1.0900 | * | 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
08:25 GMT - Cautious trade above 1.0800 is giving way to a break, as intraday studies tick lower, with focus turning to the 1.0765 low of 6 March. Daily readings are bearish and overbought weekly stochastics are flattening, suggesting room for a later break beneath here and continuation of March losses towards the 1.0655 Fibonacci retracement. The rising weekly Tension Indicator, however, could prompt fresh buying interest towards here. Meanwhile, a close back above resistance at 1.0800, if seen, would help to stabilise price action once again and give way to renewed consolidation beneath the 1.0900 break level.