Published: 2025-05-23T01:09:00.000Z
Chart EUR/USD Update: Consolidating, higher later
Technical Analyst
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Settled back in consolidation below the 1.1381 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1573 | ** | 21 Apr YTD high | S1 | 1.1265 | * | congestion, 14 May high | |
| 14 | 1.1474 | * | 11 Apr high | S2 | 1.1200 | * | 2024 year high | |
| R2 | 1.1400/25 | * | congestion, 28 Apr high | S3 | 1.1145 | * | 3 Apr high | |
| R1 | 1.1381 | * | May high | S4 | 1.1065 | ** | 12 May low |
Asterisk denotes strength of level
01:10 GMT - Settled back in consolidation below the 1.1381 resistance as prices unwind overbought intraday studies. Consolidation expected to give way to renewed buying interest later for test of strong resistance at the 1.1381/1.1425 area. Clearance here will see room to the 1.1474 high of 11 April but potential will be seen for retest of 1.1573, 21 April YTD high. Meanwhile, support is raised to the 1.1265 congestion which is expected to underpin. Below this will see room for deeper pullback to the strong support at the 1.1200/1.1145 previous highs.