Published: 2025-09-05T10:36:30.000Z
Chart EUR/CAD Update: Edging higher
Senior Technical Strategist
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Cautious trade around 1.6100 has given way to the anticipated break
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6300 | * | historic congestion | S1 | 1.6100 | ** | congestion | |
| R3 | 1.6235 | ** | 76.4% ret of 2008-2012 fall | S2 | 1.6000 | ** | congestion | |
| R2 | 1.6225 | 22 Aug YTD high | S3 | 1.5900 | congestion | |||
| R1 | 1.6200 | * | historic congestion | S4 | 1.5800 | congestion |
Asterisk denotes strength
11:25 BST - Cautious trade around 1.6100 has given way to the anticipated break, with prices currently trading around 1.6125. Intraday studies are positive and daily readings are improving, highlighting room for a test of resistance at 1.6200. Just higher is critical resistance at the 1.6225 current year high of 22 August and the 1.6235 multi-year Fibonacci retracement. However, deteriorating weekly charts are expected to limit any initial tests of this 1.6200-1.6235 range in consolidation. Meanwhile, a close back below 1.6100 would turn sentiment neutral once again and give way to fresh consolidation above further congestion around 1.6000.