Published: 2026-05-08T11:23:19.000Z
Chart EUR/CAD Update: Focus on 1.6100
1
Cautious trade is giving way to the anticipated push higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6250~ | ** | 14 Apr (m) high | S1 | 1.6000 | * | break level | |
| R3 | 1.6200 | ** | break level | S2 | 1.5950 | * | break level | |
| R2 | 1.6150 | * | break level | S3 | 1.5900 | congestion | ||
| R1 | 1.6100 | ** | break level | S4 | 1.5855 | ** | 61.8% ret of Mar-Apr rally |
Asterisk denotes strength
11:55 BST - Cautious trade is giving way to the anticipated push higher, with prices currently trading around 1.6060. Rising daily readings highlight room for a test of resistance at 1.6100. But negative weekly charts should prompt renewed selling interest towards here and limit any immediate tests in consolidation. Meanwhile, support remains at 1.6000. A close beneath here would stabilise price action and give way to consolidation above 1.5950.