Chart EUR/USD Update: Choppy trade - studies under pressure
Little change, as mixed intraday studies keep near-term sentiment cautious
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1500 | ** | congestion | S1 | 1.1355 | ** | 38.2% ret of 2025-2026 rally | |
| R3 | 1.1482 | ** | 15 Jul (w) high | S2 | 1.1325 | ** | 24 Jun YTD low | |
| R2 | 1.1450 | * | congestion | S3 | 1.1300 | ** | congestion | |
| R1 | 1.1400 | * | congestion | S4 | 1.1275 | * | July 2023 (y) high |
*Asterisk denotes strength of level
08:30 BST - Little change, as mixed intraday studies keep near-term sentiment cautious and extend choppy trade above support at the 1.1355 Fibonacci retracement. However, daily readings have turned down and broader weekly charts are also under pressure, highlighting room for fresh losses in the coming sessions. A break will open up the 1.1325 current year low of 24 June. A further close beneath here will turn sentiment negative and confirm continuation of January losses. Meanwhile, resistance is up to congestion around 1.1400. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath further congestion around 1.1400.