Published: 2026-04-24T11:43:24.000Z
Chart EUR/CAD Update: Gains to remain limited
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Consolidation has given way to a break higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6250~ | ** | 14 Apr (w) high | S1 | 1.6022 | * | 2-6 Apr lows | |
| R3 | 1.6200 | ** | congestion | S2 | 1.6000 | * | break level | |
| R2 | 1.6150 | * | congestion | S3 | 1.5965 | 23 Apr low | ||
| R1 | 1.6100 | ** | break level | S4 | 1.5935 | ** | 50% ret of Mar-Apr rally |
Asterisk denotes strength
11:55 BST - Consolidation has given way to a break higher, as intraday studies rise and oversold daily stochastics flatten, with the break above 1.6000/22 putting focus on resistance at 1.6100. The negative daily Tension Indicator and a tick lower in overbought weekly stochastics, however, should prompt renewed selling interest towards here and limit any initial tests in consolidation. Meanwhile, a break below 1.6000 will add weight to sentiment. But a further close below the 1.5965 low of 23 April is needed to turn sentiment negative and extend April losses towards the 1.5935 Fibonacci retracement.