Chart EUR/USD Update: Leaning lower
Choppy trade beneath resistance at 1.1250 has given way to a sharp pullback in heightened volatility
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1325/40 | ** | 24 Jun (m) low; 38.2% ret | S1 | 1.1150 | congestion | ||
| R3 | 1.1270 | ** | 16 Oct (w) high | S2 | 1.1130 | ** | 50% ret of 2025-2026 rally | |
| R2 | 1.1250 | congestion tops | S3 | 1.1100/05 | ** | congestion; 29 Oct YTD low | ||
| R1 | 1.1200 | ** | break level | S4 | 1.1065 | ** | 12 May 25 (m) low |
*Asterisk denotes strength of level
08:30 GMT - Choppy trade beneath resistance at 1.1250 has given way to a sharp pullback in heightened volatility, with prices currently balanced around congestion support at 1.1150. Intraday studies have turned down and the rising daily readings are flattening, suggesting room for a break towards the 1.1130 Fibonacci retracement. However, flat oversold weekly stochastics are expected to limit any initial tests beneath here in fresh consolidation above critical support at the 1.1105 current year low of 29 October, before deteriorating longer-term readings prompt a break and extend January losses initially towards 1.1065.
Meanwhile, resistance is lowered to 1.1200. A close above here, if seen, will help to stabilise price action and prompt consolidation/range extension in congestion beneath 1.1250.