Published: 2026-04-29T10:32:06.000Z
Chart EUR/CAD Update: Consolidating - background studies under pressure
1
Little change, as anticipated gains give way to cautious trade within the 1.6000 - 1.6022 range
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6150 | * | congestion | S1 | 1.5965 | ** | 23 Apr (w) low | |
| R3 | 1.6100 | ** | break level | S2 | 1.5935 | ** | 50% ret of Mar-Apr rally | |
| R2 | 1.6022 | * | 2-6 Apr lows | S3 | 1.5900 | congestion | ||
| R1 | 1.6000 | * | break level | S4 | 1.5855 | ** | 61.8% ret of Mar-Apr rally |
Asterisk denotes strength
11:20 BST - Little change, as anticipated gains give way to cautious trade within the 1.6000 - 1.6022 range. Oversold daily stochastics are rising, suggesting potential for a test above resistance at the 1.6022 lows of 2-6 April. But the bearish daily Tension Indicator and mixed/negative weekly charts should limit scope in renewed selling interest beneath resistance at the 1.6100 break level. Meanwhile, support remains at the 1.5965 weekly low of 23 April and extends to the 1.5935 Fibonacci retracement. A close beneath here would turn sentiment negative and extend mid-April losses towards the 1.5855 retracement.