Published: 2026-04-20T11:38:45.000Z
Chart EUR/CAD Update: Early losses not sustained - studies under pressure
1
The opening gap below 1.6100 has bounced from 1.6055~
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6300 | * | congestion | S1 | 1.6100 | ** | break level | |
| R3 | 1.6250 | * | congestion | S2 | 1.6022/25 | * | 2-6 Apr lows | |
| R2 | 1.6200 | * | congestion | S3 | 1.6000/05 | ** | break level; 38.2% ret | |
| R1 | 1.6150 | * | congestion | S4 | 1.5935 | ** | 50% ret of Mar-Apr rally |
Asterisk denotes strength
12:10 BST - The opening gap below 1.6100 has bounced from 1.6055~, as oversold intraday studies turn higher, with prices once again trading above support at 1.6100. Daily readings continue to fall, highlighting room for a fresh test beneath here. But positive weekly charts should limit initial scope in renewed consolidation above strong support within the 1.6000/05 - 1.6022/25 range. Meanwhile, resistance remains up to congestion around 1.6150. An unexpected break above here would help to stabilise price action and prompt consolidation beneath further congestion around 1.6200.