Published: 2025-08-01T11:18:09.000Z
Chart EUR/CAD Update: Gains to remain limited
Senior Technical Strategist
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Little change, as prices extend cautious trade around 1.5840
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6150~ | ** | March 2018 (y) high | S1 | 1.5800 | congestion | ||
| R3 | 1.6100/18 | ** | cong; 28 Jul YTD high | S2 | 1.5765~ | 30 Jul low | ||
| R2 | 1.6000 | ** | congestion | S3 | 1.5725 | * | 50% ret of Mar-Jul rally | |
| R1 | 1.5900 | congestion | S4 | 1.5700 | * | congestion |
Asterisk denotes strength
11:50 BST - Little change, as prices extend cautious trade around 1.5840. Oversold daily stochastics are ticking higher, suggesting room for a bounce. But the negative daily Tension Indicator and bearish weekly charts are expected to limit scope in renewed selling interest towards congestion resistance at 1.5900. Following cautious trade, lower levels are looked for. A later break below congestion support at 1.5800 will add weight to sentiment and extend July losses initially to the 1.5725 Fibonacci retracement. Still lower is 1.5700.