Published: 2025-06-24T11:11:14.000Z
Chart EUR/CAD Update: Focus back on current year highs
Senior Technical Strategist
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Choppy trade around 1.5800 has given way to anticipated gains
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6150~ | ** | Mar 2018 (y) high | S1 | 1.5800 | congestion | ||
| R3 | 1.5990/00 | ** | Mar 2020 (y) high; cong | S2 | 1.5700 | break level | ||
| R2 | 1.5960 | ** | 21 Apr YTD high | S3 | 1.5600 | * | congestion | |
| R1 | 1.5900 | congestion | S4 | 1.5500 | ** | congestion |
Asterisk denotes strength
11:40 BST - Choppy trade around 1.5800 has given way to anticipated gains, with sharp buying interest reaching 1.5935 before settling into consolidation around congestion resistance at 1.5900. Daily readings continue to rise and broader weekly charts have turned mixed/positive, highlighting room for further strength in the coming sessions. A close above the 1.5960 current year high of 21 April is needed to turn sentiment positive and extend mid-May gains, initially towards congestion around 1.5900. Meanwhile, support is raised to 1.5800. A close beneath here, if seen, will open up congestion around 1.5700, where fresh consolidation is expected to appear.