Published: 2025-09-02T10:48:55.000Z
Chart EUR/CAD Update: Under pressure
Senior Technical Strategist
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Cautious trade around 1.6100 has given way to a sharp pullback
| 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
11:30 BST - Cautious trade around 1.6100 has given way to a sharp pullback, with negative intraday studies putting focus on congestion support at 1.6000. Mixed/negative daily readings are coming under pressure and broader weekly charts are negative, highlighting room for a break beneath here towards further congestion around 1.5900. Meanwhile, resistance remains at congestion around 1.6100. An unexpected break above here should meet fresh selling interest beneath 1.6200.