Published: 2025-12-29T13:09:07.000Z
Chart EUR/CAD Update: Consolidating test of support - studies under pressure
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The anticipated test of congestion support at 1.6100 has extended to the 1.6065 weekly low of 8 December
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6300 | * | congestion | S1 | 1.6100 | * | congestion | |
| R3 | 1.6250 | congestion | S2 | 1.6065 | * | 8 Dec (w) low | ||
| R2 | 1.6200 | * | congestion | S3 | 1.6035 | ** | 61.8% ret of Jul-Oct rally | |
| R1 | 1.6150 | * | congestion | S4 | 1.6000 | * | congestion |
Asterisk denotes strength
12:50 GMT - The anticipated test of congestion support at 1.6100 has extended to the 1.6065 weekly low of 8 December, where rising intraday studies are prompting a smart bounce back above 1.6100. Focus is turning to congestion resistance at 1.6150. But deteriorating daily readings and negative weekly charts are expected to limit any tests in renewed selling interest/consolidation. Following cautious trade, fresh losses are looked for. A close below 1.6065 will turn sentiment negative and extend mid-October losses towards the 1.6035 Fibonacci retracement.