Published: 2026-02-19T08:53:29.000Z
Chart EUR/USD Update: Short-term bounce - studies remain under pressure
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The anticipated test of 1.1800 has bounced from above strong support at the 1.1770 Fibonacci retracement
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1950 | break level | S1 | 1.1770 | ** | 61.8% ret of January rally | ||
| R3 | 1.1900 | * | congestion | S2 | 1.1750 | ** | congestion | |
| R2 | 1.1850 | * | break level | S3 | 1.1695/00 | ** | 76.4% ret; congestion | |
| R1 | 1.1800 | * | congestion | S4 | 1.1650 | * | congestion |
*Asterisk denotes strength of level
08:35 GMT - The anticipated test of 1.1800 has bounced from above strong support at the 1.1770 Fibonacci retracement, with prices currently balanced around 1.1800. Oversold intraday studies are unwinding, suggesting room for a test higher. But negative daily readings and deteriorating weekly charts are expected to limit scope in renewed selling interest beneath the 1.1850 break level. Following cautious/corrective trade, fresh losses are looked for. However, a close below the 1.1770 Fibonacci retracement is needed to confirm continuation of January losses and open up a test of 1.1695/00.