Published: 2025-04-14T10:25:47.000Z
Chart EUR/CAD Update: Cautious trade - studies continue to rise
Senior Technical Strategist
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The anticipated test below support at 1.5700 has bounced from 1.5675
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6155~ | ** | Mar 2018 (y) high | S1 | 1.5700 | break level | ||
| R3 | 1.5990/00 | ** | Mar 2020 (y) high; cong | S2 | 1.5600 | * | congestion | |
| R2 | 1.5932 | * | 11 Apr YTD high | S3 | 1.5500 | ** | congestion | |
| R1 | 1.5855 | * | 11 Mar (m) high | S4 | 1.5400 | * | congestion |
Asterisk denotes strength
11:05 BST - The anticipated test below support at 1.5700 has bounced from 1.5675, with prices currently balanced in cautious trade beneath 1.5800. Intraday studies are under pressure, suggesting potential for a fresh test of 1.5700. But rising daily readings and positive weekly charts should limit any break in renewed buying interest above congestion support at 1.5600. Meanwhile, resistance remains at the 1.5855 monthly high of 11 March. A close above here would improve sentiment. But a further close above the 1.5932 current year high of 11 April is needed to confirm fresh gains and extend August 2022 gains towards strong resistance at 1.5990/00.