Published: 2025-05-27T07:53:03.000Z
Chart EUR/USD Update: Settling back from recent highs
Senior Technical Strategist
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The test of resistance within the 1.1400/25 range is giving way to profit-taking
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1573 | ** | 21 Apr YTD high | S1 | 1.1300 | * | break level | |
| 14 | 1.1500 | * | congestion | S2 | 1.1255 | * | 22 May low | |
| R2 | 1.1425 | ** | 28 Apr (w) high | S3 | 1.1200 | * | congestion | |
| R1 | 1.1400 | * | congestion | S4 | 1.1130 | * | 16 May low |
*Asterisk denotes strength of level
08:35 BST - The test of resistance within the 1.1400/25 range is giving way to profit-taking, as intraday studies turn down, with prices falling steadily to currently trade around 1.1345. A test of support at 1.1300 cannot be ruled out. But rising daily readings and mixed weekly charts are expected to limit any break in renewed buying interest/consolidation towards the 1.1255 low of 22 May. Meanwhile, a close above 1.1400/25, if seen, will improve price action and extend May gains initially towards congestion around 1.1500.