Published: 2025-09-04T07:37:59.000Z
Chart EUR/USD Update: Consolidating - studies under pressure
Senior Technical Strategist
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Still little change, as prices extend cautious trade above congestion support at 1.1600
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1830 | ** | 1 Jul YTD high | S1 | 1.1600 | * | congestion | |
| R3 | 1.1789 | * | 24 Jul (w) high | S2 | 1.1500 | ** | congestion | |
| R2 | 1.1750 | * | break level | S3 | 1.1400 | ** | congestion | |
| R1 | 1.1700 | * | congestion | S4 | 1.1360 | ** | 61.8% ret of May-Jul rally |
*Asterisk denotes strength of level
08:30 BST - Still little change, as prices extend cautious trade above congestion support at 1.1600. Intraday studies are mixed/negative and daily readings are under pressure, highlighting room for fresh losses in the coming sessions. A close beneath here will add weight to sentiment and complete a multi-week distribution pattern within 1.1600-1.1700, as focus then turns to 1.1500. Broader weekly charts are also deteriorating, suggesting continuation towards critical support within 1.1360-1.1400. Meanwhile, resistance is at congestion around 1.1700 and extends to 1.1750. This range should cap any immediate tests higher.