Published: 2026-07-23T11:04:38.000Z
Chart EUR/CAD Update: Leaning lower in range
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Cautious trade beneath resistance at 1.6100 is giving way to a drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6250~ | ** | 14 Apr (m) high | S1 | 1.6020 | * | 38.2% ret of Mar-Jun rally | |
| R3 | 1.6200 | ** | congestion | S2 | 1.6000 | ** | congestion | |
| R2 | 1.6150 | * | break level | S3 | 1.5940 | ** | 50% ret of Mar-Jun rally | |
| R1 | 1.6100 | ** | break level | S4 | 1.5900~ | ** | 4 May (m) low |
Asterisk denotes strength
11:30 BST - Cautious trade beneath resistance at 1.6100 is giving way to a drift lower, as intraday studies remain under pressure. Support is down to congestion around 1.6000 and the 1.6020 Fibonacci retracement. However, rising daily readings should limit any initial tests of this range in consolidation, before bearish weekly charts prompt renewed selling interest. A later close beneath here will add weight to sentiment and extend late-June losses towards the 1.5940 retracement. Meanwhile, a close above 1.6100, if seen, would help to stabilise price action and prompt consolidation beneath 1.6150.