Published: 2026-05-01T12:21:21.000Z
Chart EUR/CAD Update: Extending April losses
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Cautious trade has given way to a sharp break lower to 1.5915~
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6100 | ** | break level | S1 | 1.5900 | congestion | ||
| R3 | 1.6022 | * | 2-6 Apr lows | S2 | 1.5855 | ** | 61.8% ret of Mar-Apr rally | |
| R2 | 1.6000 | * | break level | S3 | 1.5800 | congestion | ||
| R1 | 1.5950 | * | break level | S4 | 1.5765 | ** | 76.4% ret of Mar-Apr rally |
Asterisk denotes strength
13:00 BST - Cautious trade has given way to a sharp break lower to 1.5915~, where unwinding oversold intraday studies are prompting a bounce. Focus is on resistance at 1.5950. But negative daily readings and deteriorating weekly charts should limit any break in renewed selling interest towards 1.6000. Following cautious trade, fresh losses are looked for. A break below congestion support at 1.5900 will add weight to sentiment and extend mid-April losses towards the 1.5855 Fibonacci retracement. Oversold daily stochastics could limit any initial tests in short-covering/consolidation.