Published: 2026-06-16T10:46:06.000Z
Chart EUR/CAD Update: Room for higher
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Consolidation has given way to a drift higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6468 | ** | 17 Oct 2025 (y) high | S1 | 1.6200 | ** | congestion | |
| R3 | 1.6393 | ** | 27 Jan YTD high | S2 | 1.6150 | * | break level | |
| R2 | 1.6300 | ** | congestion | S3 | 1.6100 | ** | break level | |
| R1 | 1.6250~ | ** | 14 Apr (m) high | S4 | 1.6050 | congestion |
Asterisk denotes strength
11:40 BST - Consolidation has given way to a drift higher, with prices currently pressuring strong resistance at the 1.6250~ monthly high of 14 April. Daily stochastics continue to rise and the daily Tension Indicator is also turning positive, highlighting room for a break above here and continuation of March gains towards congestion around 1.6300. However, already overbought daily stochastics could limit any initial tests in fresh consolidation, before rising weekly charts prompt further gains. Meanwhile, a close back below congestion support at 1.6200 would stabilise sentiment and prompt consolidation above 1.6150.