Published: 2025-06-20T07:46:36.000Z
Chart EUR/USD Update: Limited tests higher
Senior Technical Strategist
1
Cautious trade has given way to a bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1685 | ** | 76.4% ret of 2021-2022 fall | S1 | 1.1500 | * | congestion | |
| 14 | 1.1630 | ** | 12 Jun YTD high | S2 | 1.1446 | 19 Jun low | ||
| R2 | 1.1600 | ** | congestion | S3 | 1.1400 | * | congestion | |
| R1 | 1.1550 | minor break level | S4 | 1.1357 | * | 4 Jun low |
*Asterisk denotes strength of level
08:30 BST - Cautious trade has given way to a bounce, with the break above 1.1500 giving way to consolidation around 1.1515. Oversold daily stochastics are unwinding, highlighting potential for further tests higher. But the negative daily Tension Indicator and deteriorating weekly charts should limit scope in renewed selling interest beneath congestion around 1.1600. Following cautious trade, fresh losses are looked for. A break back below 1.1500 will target the 1.1446 low of 19 June, with further slippage opening up congestion around 1.1400.