Published: 2025-03-06T11:40:49.000Z
Chart EUR/CAD Update: Choppy at 4-year highs
Senior Technical Strategist
1
Anticipated gains have tested above 1.5500 to reach the 1.5540 high of February 2021
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5680 | ** | January 2021 (y) high | S1 | 1.5300 | * | congestion | |
| R3 | 1.5600 | ** | congestion | S2 | 1.5200 | * | congestion | |
| R2 | 1.5540 | February 2021 high | S3 | 1.5100 | * | congestion | ||
| R1 | 1.5500 | ** | congestion | S4 | 1.5000 | ** | congestion |
Asterisk denotes strength
11:25 GMT - Anticipated gains have tested above 1.5500 to reach the 1.5540 high of February 2021. Mixed intraday studies and flattening overbought daily stochastics are prompting short-term reactions within here. However, the daily Tension Indicator continues to rise and weekly charts are also positive, highlighting room for still further gains in the coming sessions. A break above this range will extend multi-year gains towards congestion around 1.5600. Meanwhile, a close below congestion support at 1.5300, if seen, would turn sentiment neutral and prompt consolidation above further congestion around 1.5200.