Published: 2025-06-03T10:44:31.000Z
Chart EUR/CAD Update: Range extension - gains to remain limited
Senior Technical Strategist
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Minor gains have reached resistance at 1.5700
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5900 | congestion | S1 | 1.5600 | * | congestion | ||
| R3 | 1.5800 | congestion | S2 | 1.5500 | ** | congestion | ||
| R2 | 1.5760 | * | 21 May (w) high | S3 | 1.5400 | ** | congestion, 38.2% ret | |
| R1 | 1.5700 | break level | S4 | 1.5325 | ** | 27 Mar (w) low |
Asterisk denotes strength
11:25 BST - Minor gains have reached resistance at 1.5700, where unwinding overbought intraday studies are prompting renewed selling interest and a pullback to 1.5660. The daily Tension Indicator is flat, suggesting potential for consolidation in the coming sessions. But daily stochastics are leaning lower and broader weekly charts are negative, highlighting potential for later fresh losses. Support is at congestion around 1.5600. A break beneath here will add weight to sentiment and initially target further congestion around 1.5500. Meanwhile, a close above the 1.5760 weekly high of 21 May is needed to turn sentiment positive and initially target 1.5800.