Published: 2026-05-15T11:21:58.000Z
Chart EUR/CAD Update: Under pressure
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Cautious trade has given way to the anticipated test of support at 1.6000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6200 | ** | break level | S1 | 1.6000 | * | break level | |
| R3 | 1.6150 | * | break level | S2 | 1.5950 | * | break level | |
| R2 | 1.6100 | ** | break level | S3 | 1.5900 | congestion | ||
| R1 | 1.6050 | congestion | S4 | 1.5855 | ** | 61.8% ret of Mar-Apr rally |
Asterisk denotes strength
11:55 BST - Cautious trade has given way to the anticipated test of support at 1.6000, where oversold intraday studies are prompting short-term consolidation. Daily readings and weekly stochastics are coming under pressure, highlighting room for a break beneath here towards support at 1.5950. However, the rising weekly Tension Indicator could limit any initial tests in fresh consolidation. Meanwhile, resistance is at congestion around 1.6050, and should cap any immediate tests higher.