Published: 2025-08-05T01:35:59.000Z
Chart EUR/USD Update: Consolidating below 1.1600
Technical Analyst
4
Little change, as prices drift narrowly below the 1.1600 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1830 | ** | 1 Jul YTD high | S1 | 1.1500 | * | congestion | |
| 14 | 1.1790 | * | 24 Jul high | S2 | 1.1460 | * | 31 Jul high | |
| R2 | 1.1700 | * | congestion | S3 | 1.1400 | * | congestion | |
| R1 | 1.1600 | * | congestion | S4 | 1.1275 | ** | 2023 year high |
Asterisk denotes strength of level
01:30 GMT - Little change, as prices drift narrowly below the 1.1600 level to consolidate bounce from support at the 1.1400 congestion. Daily studies are oversold and suggest consolidation giving way to break of the 1.1600 level to further retrace losses from the 1.1830 high. Clearance will open up room to the 1.1700 congestion. Beyond this will return focus to the 1.1790 and 1.1830, July highs. Meanwhile, support is raised to the 1.1500 congestion which should now underpin and sustain bounce from the 1.1400 support.