Published: 2025-06-13T10:56:31.000Z
Chart EUR/CAD Update: Break higher not sustained
Senior Technical Strategist
2
The anticipated break above 1.5800 has met selling interest around 1.5843
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5900 | congestion | S1 | 1.5600 | * | congestion | ||
| R3 | 1.5843 | 12 Jun high | S2 | 1.5500 | ** | congestion | ||
| R2 | 1.5800 | congestion | S3 | 1.5400 | ** | congestion, 38.2% ret | ||
| R1 | 1.5700 | break level | S4 | 1.5325 | ** | 27 Mar (w) low |
Asterisk denotes strength
11:30 BST - The anticipated break above 1.5800 has met selling interest around 1.5843, as overbought intraday studies unwind, with steady selling interest prompting a pullback and break below 1.5700. Focus is turning to congestion support at 1.5600. But rising daily readings are expected to limit any initial tests in consolidation. Mixed/negative weekly charts, however, suggest a later break towards further congestion around 1.5500. Meanwhile, a close back above resistance at 1.5700 would help to stabilise price action and prompt consolidation beneath congestion resistance at 1.5800.