Published: 2025-08-06T01:34:21.000Z
Chart EUR/USD Update: Extend consolidation below 1.1600
Technical Analyst
1
Little change, as prices holds a narrow range below the 1.1600 level to consolidate bounce from the 1.1400 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1830 | ** | 1 Jul YTD high | S1 | 1.1500 | * | congestion | |
| 14 | 1.1790 | * | 24 Jul high | S2 | 1.1460 | * | 31 Jul high | |
| R2 | 1.1700 | * | congestion | S3 | 1.1400 | * | congestion | |
| R1 | 1.1600 | * | congestion | S4 | 1.1275 | ** | 2023 year high |
Asterisk denotes strength of level
01:25 GMT - Little change, as prices holds a narrow range below the 1.1600 level to consolidate bounce from the 1.1400 support. Daily studies have turned mixed but consolidation is expected to give way to break later to further retrace losses from the 1.1830 high. Clearance will open up room to the 1.1700 congestion. Beyond this will return focus to the 1.1790 and 1.1830, July highs. Meanwhile, support is raised to the 1.1500 congestion which should now underpin and sustain bounce from the 1.1400 support.