Chart EUR/USD Update: Choppy above fresh year low - any gains to remain limited
Little change, as mixed intraday studies keep near-term sentiment cautious and extend choppy trade just beneath resistance at 1.1200
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1400 | ** | congestion | S1 | 1.1160 | ** | 5 Oct YTD low | |
| R3 | 1.1325 | ** | 24 Jun (m) low | S2 | 1.1130 | ** | 50% ret of 2025-2026 rally | |
| R2 | 1.1280/00 | ** | break level; congestion | S3 | 1.1100 | figure | ||
| R1 | 1.1200 | ** | break level | S4 | 1.1065 | ** | 12 May (m) low |
*Asterisk denotes strength of level
08:40 BST - Little change, as mixed intraday studies keep near-term sentiment cautious and extend choppy trade just beneath resistance at 1.1200. Daily stochastics and the daily Tension Indicator are rising, highlighting room for a break back above here towards strong resistance at the 1.1280 break level and congestion around 1.1300. But negative weekly charts should limit any immediate tests in fresh consolidation.
Following cautious/corrective trade, fresh losses are looked for. A later close below the 1.1160 current year low of 5 October will add weight to sentiment and extend January losses initially towards the 1.1130 Fibonacci retracement.