Level Technical Significance

1.1500 Psychological Level

1.1440 Daily High Apr 23

1.1425 Daily High Apr 28

1.1381 Daily High May 2

1.1291 ==Update Price==

1.1264 Daily Low Apr 15

1.1231 23.6% Fibo 1.0125-1.1572

1.1192 Daily Low Apr 11

1.1100 Psychological Level

Strategy Await Signal

Current Position Flat @ 1.0870

Target: Stop:

Open/Close 03-Apr-25

EUR/USD's has seen a setback after a large upper shadow on a recent weekly candle hinted at an upside rejection. There could well be good support circa the major 1.1231 Fibo, a 23.6% retrace of 1.0125 to 1.1572 2025 (EBS) rise. Especially as the fourteen-week momentum reading remains positive, as that adds to the underlying bullish bias. A weekly close under 1.1231 Fibo would defer.

Weekly Chart:

(Martin Miller is a Reuters market analyst. The views expressed are his own)