Chart EUR/USD Update: Extending pressure on 1.1200
Little change, as prices extend cautious trade above support at 1.1200 following the minor test beneath here
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1325 | ** | 24 Jun (m) low | S1 | 1.1200 | ** | break level | |
| R3 | 1.1300 | ** | congestion | S2 | 1.1130 | ** | 50% ret of 2025-2026 rally | |
| R2 | 1.1270/80 | ** | 16 Oct (w) high; break level | S3 | 1.1100/15 | ** | figure; 14 Oct YTD low | |
| R1 | 1.1250 | congestion tops | S4 | 1.1065 | ** | 12 May (m) low |
*Asterisk denotes strength of level
08:30 GMT - Little change, as prices extend cautious trade above support at 1.1200 following the minor test beneath here. Overbought daily stochastics are unwinding, highlighting room for a break back beneath here. Focus will then turn to critical support at the 1.1115 current year low of 14 October and the 1.1130 Fibonacci retracement. But the positive daily Tension Indicator and flat oversold weekly stochastics could limit any initial tests in fresh consolidation, before the bearish weekly Tension Indicator and negative longer-term charts prompt a break.
Meanwhile, resistance is at the 1.1250 congestion tops. A break above here, if seen, should be limited in renewed selling interest/consolidation beneath the 1.1270 weekly high of 16 October and the 1.1280 break level. A close above here would turn sentiment positive and confirm continuation of mid-October gains towards the 1.1325 - 1.1340 range, where fresh profit-taking should increase.