Published: 2025-08-04T11:04:06.000Z
Chart EUR/CAD Update: Further gains to remain limited
Senior Technical Strategist
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Cautious trade above 1.5900 has given way to a bounce to 1.5980
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6200 | * | historic congestion | S1 | 1.5900 | congestion | ||
| R3 | 1.6150~ | ** | March 2018 (y) high | S2 | 1.5800 | congestion | ||
| R2 | 1.6100/18 | ** | cong; 28 Jul YTD high | S3 | 1.5765~ | 30 Jul low | ||
| R1 | 1.6000 | ** | congestion | S4 | 1.5725 | * | 50% ret of Mar-Jul rally |
Asterisk denotes strength
11:45 BST - Cautious trade above 1.5900 has given way to a bounce to 1.5980, before settling into fresh consolidation around 1.5950 as intraday studies turn mixed. Daily readings are ticking higher, suggesting potential for a test of congestion resistance at 1.6000. But bearish weekly charts are expected to limit any break in renewed selling interest beneath critical resistance at 1.6100/18. Meanwhile, support is at congestion around 1.5900. Any immediate tests beneath here should be limited in fresh consolidation above congestion support at 1.5800.