Published: 2026-04-21T12:17:28.000Z
Chart EUR/CAD Update: Consolidating - studies under pressure
-
Cautious trade around resistance at 1.6100 is giving way to a drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6250 | * | congestion | S1 | 1.6055~ | 20 Apr low | ||
| R3 | 1.6200 | * | congestion | S2 | 1.6022/25 | * | 2-6 Apr lows | |
| R2 | 1.6150 | * | congestion | S3 | 1.6000/05 | ** | break level; 38.2% ret | |
| R1 | 1.6100 | ** | break level | S4 | 1.5935 | ** | 50% ret of Mar-Apr rally |
Asterisk denotes strength
13:05 BST - Cautious trade around resistance at 1.6100 is giving way to a drift lower, with prices currently balanced around 1.6070. Daily readings are under pressure and overbought weekly stochastics are flattening, highlighting room for further losses in the coming sessions. A break below the 1.6055~ low of 20 April will open up strong support within the 1.6000/05 - 1.6022/25 range. But already oversold daily stochastics and the rising weekly Tension Indicator should limit any initial tests in consolidation. Meanwhile, a close back above 1.6100 will help to stabilise price action and prompt consolidation beneath congestion around 1.6150.