Published: 2025-08-12T11:39:05.000Z
Chart EUR/CAD Update: Further consolidation - studies leaning lower
Senior Technical Strategist
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Still little change, as mixed intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6235 | ** | 76.4% ret of 2008-2012 fall | S1 | 1.6000 | ** | congestion | |
| R3 | 1.6150~ | ** | March 2018 (y) high | S2 | 1.5900 | congestion | ||
| R2 | 1.6100/18 | ** | cong; 28 Jul YTD high | S3 | 1.5800 | congestion | ||
| R1 | 1.6050~ | 7 Aug high | S4 | 1.5765~ | 30 Jul low |
Asterisk denotes strength
12:30 BST - Still little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation above congestion support at 1.6000. Rising daily stochastics are turning down, suggesting potential for a test beneath here. But the rising daily Tension Indicator is expected to limit any initial break in fresh consolidation above further congestion around 1.5900, before negative weekly charts prompt deeper losses. Meanwhile, resistance is up to congestion around 1.6100 and the 1.6118 current year high of 28 July. This range should cap any immediate tests higher.