Published: 2026-05-19T01:22:38.000Z
Chart EUR/USD Update: Consolidating above 1.1600
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Saw bounce just above support at the 1.1600 congestion as prices consolidate sharp losses last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1800 | ** | congestion | S1 | 1.1600 | * | congestion | |
| 14 | 1.1750 | * | congestion | S2 | 1.1575/50 | * | congestion | |
| R2 | 1.1700 | * | congestion | S3 | 1.1500 | ** | congestion | |
| R1 | 1.1680 | * | 200-day MA | S4 | 1.1450 | congestion |
Asterisk denotes strength of level
01:15 GMT - Saw bounce just above support at the 1.1600 congestion as prices consolidate sharp losses last week. Break above the 1.1655 open up stronger gains to resistance at 1.1680/1.1700, 200-day MA and congestion area which is expected to cap and give way to renewed selling pressure. Below the 1.1600 level will see room for extension to support at the 1.1575/50 congestion area. Meanwhile, break above the 1.1680/1.1700 resistance will ease the downside pressure and revive upside focus for retest of resistance at the 1.1750/1.1800 congestion area.