Published: 2025-05-29T01:45:10.000Z
Chart EUR/USD Update: Consolidating above strong support at 1.1200
Technical Analyst
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Further extending losses from the 1.1400/25 resistance to turn focus to strong support at 1.1200
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1474 | * | 11 Apr high | S1 | 1.1200 | ** | congestion, 2024 year high | |
| 14 | 1.1425 | * | 28 Apr high | S2 | 1.1130 | * | 16 May low | |
| R2 | 1.1381 | * | 6 May high | S3 | 1.1065 | ** | 12 May low | |
| R1 | 1.1300 | * | congestion | S4 | 1.1040 | * | 38.2% Jan/Apr rally |
Asterisk denotes strength of level
01:35 GMT - Further extending losses from the 1.1400/25 resistance and break of the 1.1265 support turn focus to strong support at 1.1200, the 2024 year high. Consolidation here see prices unwinding oversold intraday but negative daily readings suggest scope for break to open up deeper pullback to retest support at 1.1130 then the 1.1065/40, 12 May low and 38.2% Fibonacci level. Meanwhile, resistance is lowered to the 1.1300 congestion which is expected to cap. Would take break here to ease the downside pressure and see scope for retest of 1.1400/25 resistance.