Published: 2025-09-01T11:12:02.000Z
Chart EUR/CAD Update: Gains to remain limited
Senior Technical Strategist
1
Cautious trade has given way to a gradual move higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6235 | ** | 76.4% ret of 2008-2012 fall | S1 | 1.6000 | ** | congestion | |
| R3 | 1.6225 | 22 Aug YTD high | S2 | 1.5900 | congestion | |||
| R2 | 1.6200 | * | historic congestion | S3 | 1.5800 | congestion | ||
| R1 | 1.6100 | ** | congestion | S4 | 1.5762 | ** | 30-31 Jul (m) low |
Asterisk denotes strength
11:55 BST - Cautious trade has given way to a gradual move higher, with prices currently balanced around congestion resistance at 1.6100. Oversold daily stochastics are ticking higher, suggesting room for a test above here. But the bearish daily Tension Indicator and deteriorating weekly charts should limit scope in renewed selling interest beneath critical resistance at congestion around 1.6200 and the 1.6235 Fibonacci retracement. Meanwhile, support remains at congestion around 1.6000. A close beneath here will add weight to sentiment and put initial scope on further congestion around 1.5900.