Published: 2026-06-05T11:18:13.000Z
Chart EUR/CAD Update: Consolidating - background studies rising
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Cautious trade around 1.6170 has given way to a pullback
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6300 | ** | congestion | S1 | 1.6100 | ** | break level | |
| R3 | 1.6250~ | ** | 14 Apr (m) high | S2 | 1.6050 | congestion | ||
| R2 | 1.6200 | ** | congestion | S3 | 1.6000 | * | break level | |
| R1 | 1.6150 | * | break level | S4 | 1.5940 | * | 20 May (w) low |
Asterisk denotes strength
12:00 BST - Cautious trade around 1.6170 has given way to a pullback, as intraday studies come under pressure, with prices currently balanced around 1.6150. Positive daily stochastics are flattening in overbought areas, suggesting potential for a pullback. But the positive daily Tension Indicator and rising weekly charts should limit any losses in renewed buying interest/consolidation above 1.6100. Following cautious/corrective trade, fresh gains are looked for. A close above 1.6150 would help to improve sentiment and extend early-May gains initially towards congestion around 1.6200.