Chart EUR/USD Update: Short-term reactions before prices continue lower
Anticipated losses have reached 1.1370~
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1550 | * | congestion | S1 | 1.1355 | ** | 38.2% ret of 2025-2026 rally | |
| R3 | 1.1500 | * | congestion | S2 | 1.1325 | ** | 24 Jun YTD low | |
| R2 | 1.1450 | congestion | S3 | 1.1300 | ** | congestion | ||
| R1 | 1.1400 | ** | congestion | S4 | 1.1200 | ** | break level |
*Asterisk denotes strength of level
08:40 BST - Anticipated losses have reached 1.1370~, where unwinding oversold intraday studies and flat oversold daily stochastics are prompting a bounce towards congestion resistance at 1.1400. A break above here cannot be ruled out. But the bearish daily Tension Indicator and negative weekly charts should limit scope in renewed selling interest beneath further congestion around 1.1450.
Following cautious/corrective trade, fresh losses are looked for. Support is at the 1.1355 Fibonacci retracement and extends to the 1.1325 current year low of 24 June. A close beneath here will add weight to sentiment and confirm continuation of broad January losses below 1.1300 towards 1.1200.