Chart EUR/CAD Update: Fresh 5-year highs
Anticipated gains have posted a fresh 2025 year high around 1.5740
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6000 | ** | historic congestion | S1 | 1.5600 | * | congestion | |
| R3 | 1.5825 | ** | August 2020 (m) high | S2 | 1.5500 | ** | congestion | |
| R2 | 1.5785 | ** | December 2020 (m) high | S3 | 1.5400 | * | congestion | |
| R1 | 1.5740 | current 2025 YTD high | S4 | 1.5300 | * | congestion |
Asterisk denotes strength
10:45 GMT - Anticipated gains have posted a fresh 2025 year high around 1.5740, before turning back as overbought intraday studies unwind. Daily readings continue to track higher and broader weekly charts are also positive, highlighting room for still further gains in the coming sessions. A break above 1.5740 will open up the 1.5785 monthly high of December 2020. However, rising weekly stochastics are now becoming overbought, suggesting any immediate break above here could meet profit-taking towards strong resistance at 1.6000. Meanwhile, support is raised to congestion around 1.5600 and extends to 1.5500. A close beneath here, if seen, would turn sentiment negative and prompt a sharp pullback initially to 1.5400.