Published: 2026-02-19T12:23:31.000Z
Chart EUR/CAD Update: Leaning lower in range
1
Cautious trade around 1.6150 is giving way to a drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6300 | * | congestion | S1 | 1.6100 | * | congestion | |
| R3 | 1.6250 | break level | S2 | 1.6061/65 | * | 8-31 Dec (m) lows | ||
| R2 | 1.6200 | * | congestion | S3 | 1.6035 | ** | 61.8% ret of Jul-Oct rally | |
| R1 | 1.6150 | * | congestion | S4 | 1.6000 | ** | congestion |
Asterisk denotes strength
11:50 GMT - Cautious trade around 1.6150 is giving way to a drift lower, as intraday studies turn down, with focus on congestion support at 1.6100. Daily readings are have also turned down and broader weekly charts are bearish, highlighting room for deeper losses in the coming sessions. However, a close below stronger support at the 1.6061/65 monthly lows from 8-31 December is needed to turn sentiment negative and extend October losses initially to the 1.6035 Fibonacci retracement. Meanwhile, a close back above congestion resistance at 1.6150 would help to stabilise price action and prompt renewed consolidation beneath further congestion around 1.6200.