Published: 2026-03-02T12:47:54.000Z
Chart EUR/CAD Update: Extending October losses
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Cautious trade has given way to anticipated losses
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6200 | * | congestion | S1 | 1.6000 | ** | congestion | |
| R3 | 1.6150 | * | congestion | S2 | 1.5930 | ** | 76.4% ret of Jul-Oct rally | |
| R2 | 1.6100 | * | congestion | S3 | 1.5900 | minor congestion | ||
| R1 | 1.6061/65 | * | Dec-Feb range lows | S4 | 1.5800 | minor congestion |
Asterisk denotes strength
12:30 GMT - Cautious trade has given way to anticipated losses, with sharp selling interest currently pressuring congestion support at 1.6000. Daily readings are bearish and broader weekly charts are also under pressure, highlighting room for continuation of October 2025 losses towards the 1.5960 Fibonacci retracement. However, by-then oversold daily stochastics are expected to limit any initial tests in short-covering/consolidation, before any further losses unfold. Meanwhile, resistance is at the 1.6061/65 range lows from December-February. A close above here , if seen, would help to stabilise price action and prompt consolidation around congestion at 1.6100.