Published: 2025-08-07T10:58:04.000Z
Chart EUR/CAD Update: Critical resistance at 1.6100/18
Senior Technical Strategist
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The anticipated test of 1.6000 has extended to 1.6050
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6325 | ** | Jun-Jul 2009 highs | S1 | 1.6000 | ** | congestion | |
| R3 | 1.6200 | * | historic congestion | S2 | 1.5900 | congestion | ||
| R2 | 1.6150~ | ** | March 2018 (y) high | S3 | 1.5800 | congestion | ||
| R1 | 1.6100/18 | ** | cong; 28 Jul YTD high | S4 | 1.5765~ | 30 Jul low |
Asterisk denotes strength
11:45 BST - The anticipated test of 1.6000 has extended to 1.6050, where unwinding overbought intraday studies are prompting short-term reactions and fall back to 1.6000. Daily readings continue to rise, highlighting room for continuation towards critical resistance at congestion around 1.6100 and the 1.6118 current year high of 28 July. But negative weekly charts should limit any initial tests in profit-taking/consolidation. Meanwhile, a close back below congestion support at 1.6000 would turn sentiment neutral once again and give way to fresh consolidation above further congestion around 1.5900.