Published: 2026-07-28T10:50:01.000Z
Chart EUR/CAD Update: Lower in range - background studies under pressure
2
Cautious trade has given way to anticipated selling interest
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6250~ | ** | 14 Apr (m) high | S1 | 1.6020 | * | 38.2% ret of Mar-Jun rally | |
| R3 | 1.6200 | ** | congestion | S2 | 1.6000 | ** | congestion | |
| R2 | 1.6150 | * | break level | S3 | 1.5940 | ** | 50% ret of Mar-Jun rally | |
| R1 | 1.6100 | ** | break level | S4 | 1.5900~ | ** | 4 May (m) low |
Asterisk denotes strength
11:20 BST - Cautious trade has given way to anticipated selling interest, with prices drifting lower towards support at congestion around 1.6000 and the 1.6020 Fibonacci retracement. Oversold daily stochastics are rising, suggesting potential for consolidation above here, before the bearish daily Tension Indicator and negative weekly charts prompt fresh losses. A later close below 1.6000/20 will add weight to sentiment and extend late-June losses towards the 1.5940 retracement. Meanwhile, resistance remains up to 1.6100 and should cap any immediate tests higher.