Published: 2025-01-27T12:25:53.000Z
Chart EUR/CAD Update: Pressuring 1.5100
Senior Technical Strategist
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Cautious trade has given way to fresh gains
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5300 | * | early 2021 congestion | S1 | 1.5000 | ** | congestion | |
| R3 | 1.5227 | ** | 5 Aug 2024 (y) high | S2 | 1.4900 | ** | break level | |
| R2 | 1.5169 | ** | 4 Nov (m) high | S3 | 1.4800 | * | congestion | |
| R1 | 1.5100 | * | congestion | S4 | 1.4700 | * | congestion |
Asterisk denotes strength
12:00 GMT - Cautious trade has given way to fresh gains, as intraday studies tick higher, with prices currently pressuring congestion resistance at 1.5100. The rising daily Tension Indicator highlights potential for continuation beyond here towards the 1.5169 monthly high of 4 November. But flat overbought daily stochastics could limit any initial tests in consolidation, before improving weekly charts prompt a break and extend November losses towards the 1.2557 year high of 5 August 2024. Meanwhile, support remains down to congestion around 1.5000 and should underpin any immediate setbacks.