Published: 2025-06-16T11:01:26.000Z
Chart EUR/CAD Update: Range extension
Senior Technical Strategist
2
The break below 1.5700 has met buying interest around 1.5655
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5900 | congestion | S1 | 1.5600 | * | congestion | ||
| R3 | 1.5843 | 12 Jun high | 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
11:40 BST - The break below 1.5700 has met buying interest around 1.5655, as oversold intraday studies unwind, with prices once again trading just above support at 1.5700. Overbought daily stochastics are turning down and the positive daily Tension Indicator is flattening, suggesting difficulty sustaining any run towards resistance at 1.5700. In the coming sessions, cautious trade is looked for, with support down to congestion around 1.5600. Mixed weekly charts should limit any initial tests in consolidation.