Published: 2026-04-01T01:38:29.000Z
Chart EUR/USD Update: Extending bounce
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Consolidation at the 1.1450 congestion has given way to bounce to reach resistance at 1.1580/1.1600
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1700 | * | congestion | S1 | 1.1500 | * | congestion | |
| 14 | 1.1667 | ** | 10 Mar high | S2 | 1.1450 | * | congestion | |
| R2 | 1.1640 | ** | congestion | S3 | 1.1410 | ** | 13 Mar YTD low | |
| R1 | 1.1600 | * | congestion | S4 | 1.1355 | * | 38.2% 2025/Jan rally |
Asterisk denotes strength of level
01:40 GMT - Consolidation at the 1.1450 congestion has given way to bounce to reach resistance at the 1.1580/1.1600, January low and congestion area. Both the daily and weekly studies have turned up to unwind oversold readings and suggest scope for break above the latter to open up room for stronger gains to retrace losses from the January high. Above 1.1600 will open up room for retest of strong resistance at the 1.1640/1.1667 lower highs. Meanwhile, support is raised to the 1.1500 level which should underpin and sustain bounce from the 1.1450 support.