Published: 2025-06-09T10:35:16.000Z
Chart EUR/CAD Update: Range extension - background studies falling
Senior Technical Strategist
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Little change, as prices extend consolidation above congestion support at 1.5600
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5900 | congestion | S1 | 1.5600 | * | congestion | ||
| R3 | 1.5800 | congestion | S2 | 1.5500 | ** | congestion | ||
| R2 | 1.5760 | * | 21 May (w) high | S3 | 1.5400 | ** | congestion, 38.2% ret | |
| R1 | 1.5700 | break level | S4 | 1.5325 | ** | 27 Mar (w) low |
Asterisk denotes strength
11:25 BST - Little change, as prices extend consolidation above congestion support at 1.5600. Mixed daily readings highlight further sideways trade, before negative weekly charts prompt a fresh break and open up a test of congestion support at 1.5500. Further selling interest will add weight to price action and open up stronger support at 1.5400. Meanwhile, resistance remains at 1.5700. But a close above the 1.5760 weekly high of 21 May is needed to turn sentiment positive and initially target 1.5800.