Published: 2025-04-07T07:45:48.000Z
Chart EUR/USD Update: Smart bounce from overnight lows - studies rising
Senior Technical Strategist
1
The early test below support at 1.0900 has bounced from 1.0875~
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1275 | ** | Jul 2023 (y) high | S1 | 1.1000 | ** | congestion | |
| 14 | 1.1200/15 | ** | cong; Sep 2024 (y) high | S2 | 1.0900 | * | break level | |
| R2 | 1.1145 | * | 3 Apr YTD high | S3 | 1.0875 | intraday low | ||
| R1 | 1.1100 | * | break level | S4 | 1.0850 | break level |
Asterisk denotes strength of level
08:35 BST - The early test below support at 1.0900 has bounced from 1.0875~, as oversold intraday studies turn higher, with prices currently trading just above congestion support at 1.1000. Daily readings continue to track higher and broader weekly charts are mixed/positive, highlighting room for continuation higher towards resistance at 1.1100 break level. Just higher is the 1.1145 current year high of 3 April, but this range is expected to limit any initial tests in consolidation. Meanwhile, support is at 1.1000 and extends to 1.0900. This broad range should continue to underpin any immediate tests lower.