Published: 2025-07-24T10:58:44.000Z
Chart EUR/CAD Update: Any gains to remain limited
Senior Technical Strategist
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Cautious trade has given way to a sharp bounce to congestion resistance at 1.6000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6200 | historic congestion | S1 | 1.5900 | congestion | |||
| R3 | 1.6150~ | ** | March 2018 (y) high | S2 | 1.5800 | congestion | ||
| R2 | 1.6100/09 | * | cong; 1 Jul YTD high | S3 | 1.5700 | break level | ||
| R1 | 1.6000 | ** | congestion | S4 | 1.5600 | ** | congestion lows |
Asterisk denotes strength
11:45 BST - Cautious trade has given way to a sharp bounce to congestion resistance at 1.6000, where unwinding overbought intraday studies are prompting consolidation. A pullback is possible, but mixed/positive daily readings are expected to limit initial scope in consolidation above congestion support at 1.5900, before negative weekly charts prompt a break. Meanwhile, critical resistance at congestion around 1.6100 and the 1.6109 current year high of 1 July should cap any immediate tests back above 1.6000.