Published: 2026-03-06T12:19:51.000Z
Chart EUR/CAD Update: Under pressure
3
Cautious trade is giving way to anticipated losses
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6061/65 | * | Dec-Feb range lows | S1 | 1.5800 | minor congestion | ||
| R3 | 1.6000 | ** | congestion | S2 | 1.5765 | * | 30 July (m) low | |
| R2 | 1.5900 | minor congestion | S3 | 1.5700/10 | ** | cong; 38.2% ret | ||
| R1 | 1.5850 | minor congestion | S4 | 1.5600 | * | congestion |
Asterisk denotes strength
11:45 GMT - Cautious trade is giving way to anticipated losses, as intraday studies turn down, with prices currently testing levels just beneath 1.5800. Daily and weekly charts are negative, highlighting room for further losses, with October 2025 losses to focus initially on the 1.5765 monthly low of 30 July. However, already oversold daily stochastics should limit any immediate break beneath here in short-covering/consolidation above support at congestion around 1.5700 and the 1.5710 Fibonacci retracement. Meanwhile, resistance is up to congestion around 1.5850 and should cap any immediate tests higher.