Chart EUR/CAD Update: Balanced beneath fresh 2025 year high
The anticipated test of critical resistance at the 1.6225 current year high of 22 August and the 1.6235 multi-year Fibonacci retracement has reached a fresh 2025 year high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6300 | * | historic congestion | S1 | 1.6100 | ** | congestion | |
| R3 | 1.6257 | ** | 5 Sep YTD high | S2 | 1.6000 | ** | congestion | |
| R2 | 1.6235 | ** | 76.4% ret of 2008-2012 fall | S3 | 1.5900 | congestion | ||
| R1 | 1.6200 | * | historic congestion | S4 | 1.5800 | congestion |
Asterisk denotes strength
11:25 BST - The anticipated test of critical resistance at the 1.6225 current year high of 22 August and the 1.6235 multi-year Fibonacci retracement has reached a fresh 2025 year high at 1.6257, before settling back into consolidation around 1.6200. Intraday studies are under pressure, suggesting room for a drift lower. But rising daily readings are expected to limit initial scope in consolidation above congestion support at 1.6100, before negative weekly charts prompt a later break. Meanwhile, a close above 1.6235/57 will turn sentiment positive and extend 2012 gains towards 1.6300.