Chart EUR/USD Update: Limited scope above 1.1550
The anticipated test above congestion resistance at 1.1550 has been pushed back from 1.1575
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1700 | ** | congestion | S1 | 1.1500 | ** | congestion | |
| R3 | 1.1655 | ** | 30 Apr (w) low | S2 | 1.1450 | * | congestion | |
| R2 | 1.1600 | ** | congestion | S3 | 1.1400/10 | ** | congestion; 13 Mar YTD low | |
| R1 | 1.1550 | * | congestion | S4 | 1.1355 | ** | 38.2% ret of 2025-2026 rally |
*Asterisk denotes strength of level
08:30 BST - The anticipated test above congestion resistance at 1.1550 has been pushed back from 1.1575, with prices once again extending pressure on 1.1550. Rising intraday studies and unwinding overbought daily stochastics highlight room for a retest above here. But negative daily readings and deteriorating weekly charts should limit any break in renewed selling interest beneath further congestion around 1.1600. Following cautious/corrective trade, fresh losses are looked for. Support is at congestion around 1.1500. A later close beneath here will add weight to sentiment and extend mid-April losses towards further congestion around 1.1450.