Published: 2025-05-27T11:16:12.000Z
Chart EUR/CAD Update: Consolidating - studies under pressure
Senior Technical Strategist
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Quiet trade, as prices extend consolidation above congestion support at 1.5600
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5900 | congestion | S1 | 1.5600 | * | congestion | ||
| R3 | 1.5800 | congestion | S2 | 1.5500 | ** | congestion | ||
| R2 | 1.5760 | * | 21 May (w) high | S3 | 1.5400 | ** | congestion, 38.2% ret | |
| R1 | 1.5700 | break level | S4 | 1.5325 | ** | 27 Mar (w) low |
Asterisk denotes strength
11:55 BST - Quiet trade, as prices extend consolidation above congestion support at 1.5600. Intraday studies are turning down and daily readings are mixed/negative, highlighting room for a later break towards further congestion around 1.5500. By-then oversold intraday studies could prompt fresh consolidation around here, before negative weekly charts extend losses towards stronger support at 1.5400. Meanwhile, resistance is at 1.5700 and should cap any immediate tests higher. A close above the 1.5760 weekly high of 21 May is needed to turn sentiment positive and extend May gains beyond congestion around 1.5800.