Published: 2025-09-04T10:51:07.000Z
Chart EUR/CAD Update: Consolidating - limited scope above 1.6100
Senior Technical Strategist
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Still little change, as prices extend pressure on congestion resistance at 1.6100
| 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
11:35 BST - Still little change, as prices extend pressure on congestion resistance at 1.6100. Intraday studies are rising and oversold daily stochastics are edging higher, suggesting room for a test above here. But the negative daily Tension Indicator and deteriorating weekly charts are expected to limit any break in renewed selling interest beneath 1.6200. Following cautious trade, fresh losses are looked for. A later break below congestion support at 1.6000 will add weight to sentiment and open up Still deeper losses cannot be ruled out as longer-term charts also come under pressure.