Published: 2026-05-28T11:44:51.000Z
Chart EUR/CAD Update: Cautious trade - room for a test higher
2
The test above 1.6100 has not been sustained
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6250~ | ** | 14 Apr (m) high | S1 | 1.6050 | congestion | ||
| R3 | 1.6200 | ** | congestion | S2 | 1.6000 | * | break level | |
| R2 | 1.6150 | * | break level | S3 | 1.5950 | * | break level | |
| R1 | 1.6100 | ** | break level | S4 | 1.5900 | ** | break level |
Asterisk denotes strength
12:30 BST - The test above 1.6100 has not been sustained, as intraday studies turn down, with prices currently balanced in choppy trade around 1.6085. However, daily readings continue to rise and the weekly Tension Indicator is positive, suggesting room for a fresh test above here towards 1.6150. But flat weekly stochastics and bearish longer-term charts should limit any further gains in renewed selling interest beneath congestion around 1.6200. Meanwhile, support is at congestion around 1.6050. A later break beneath here will add weight to sentiment and put initial focus on 1.6000.