Published: 2025-01-21T11:25:05.000Z
Chart EUR/CAD Update: Sharp pullback, but studies rising
Senior Technical Strategist
-
The anticipated test above 1.5000 has been sharply pushed back from beneath the 1.5060 monthly high of 18 December
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5169 | ** | 4 Nov (m) high | S1 | 1.4900 | ** | break level | |
| R3 | 1.5100 | * | congestion | S2 | 1.4800 | * | congestion | |
| R2 | 1.5060 | ** | 18 Dec (m) high | S3 | 1.4700 | * | congestion | |
| R1 | 1.5000 | ** | congestion | S4 | 1.4685~ | * | 13 Jan YTD low |
Asterisk denotes strength
11:00 GMT - The anticipated test above 1.5000 has been sharply pushed back from beneath the 1.5060 monthly high of 18 December, as intraday studies turn down, with prices currently balanced around 1.4950. Support is at 1.4900, but rising daily readings and mixed/positive weekly charts should limit any break beneath here in renewed buying interest above congestion support at 1.4800. Following cautious trade, fresh gains are looked for. But a close above 1.5060 is needed to turn sentiment positive and extend November gains initially to 1.5100.