Published: 2025-07-18T10:32:02.000Z
Chart EUR/CAD Update: Gains to remain limited
Senior Technical Strategist
-
Cautious trade is giving way to a drift higher
| 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
11:05 BST - Cautious trade is giving way to a drift higher, as intraday studies continue rise, with prices currently trading around 1.5970. Oversold daily stochastics are also rising, suggesting room for a test of congestion resistance at 1.6000. However, the negative daily Tension Indicator and deteriorating weekly charts are expected to limit any break in renewed selling interest beneath critical resistance at congestion around 1.6100 and the 1.6109 current year high of 1 July. Meanwhile, support remains at congestion around 1.5900. A later close beneath here will add weight to sentiment and extend July losses towards further congestion around 1.5800.