Published: 2025-08-27T10:35:34.000Z
Chart EUR/CAD Update: Under pressure
Senior Technical Strategist
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Consolidation around 1.6100 has given way to the anticipated break
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6235 | ** | 76.4% ret of 2008-2012 fall | S1 | 1.6000 | ** | congestion | |
| R3 | 1.6225 | 22 Aug YTD high | S2 | 1.5900 | congestion | |||
| R2 | 1.6200 | * | historic congestion | S3 | 1.5800 | congestion | ||
| R1 | 1.6100 | ** | congestion | S4 | 1.5762 | ** | 30-31 Jul (m) low |
Asterisk denotes strength
11:10 BST - Consolidation around 1.6100 has given way to the anticipated break, as intraday studies turn down, with prices currently trading around 1.6045. Daily readings are also under pressure and broader weekly charts are deteriorating, highlighting room for further losses in the coming sessions. Focus is on congestion support at 1.6000, with a break beneath here opening up further congestion around 1.5900. Meanwhile, a close back above congestion resistance at 1.6100, if seen, will help to stabilise price action and prompt consolidation beneath critical resistance at 1.6200/35.