Published: 2025-05-15T10:55:32.000Z
Chart EUR/CAD Update: Gains to remain limited
Senior Technical Strategist
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Little change, as prices edge marginally higher in cautious trade towards resistance at 1.5700
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5960 | ** | 21 Apr YTD high | S1 | 1.5600 | * | congestion | |
| R3 | 1.5900 | congestion | S2 | 1.5500 | ** | congestion | ||
| R2 | 1.5800 | congestion | S3 | 1.5400 | ** | congestion, 38.2% ret | ||
| R1 | 1.5700 | break level | S4 | 1.5325 | ** | 27 Mar (w) low |
Asterisk denotes strength
11:20 BST - Little change, as prices edge marginally higher in cautious trade towards resistance at 1.5700. Daily readings are rising, suggesting room for a test above here. But broader weekly charts continue to deteriorate, suggesting any break could give way to renewed selling interest beneath congestion resistance at 1.5800. Meanwhile, support remains at congestion around 1.5500. A close beneath here would add weight to sentiment and open up stronger support at 1.5400.