Published: 2026-01-21T12:33:47.000Z
Chart EUR/CAD Update: Limited tests lower - daily studies rising
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Cautious trade within resistance at 1.6200/20 is giving way to a drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6265 | * | 50% ret of Oct-Dec fall | S1 | 1.6150 | * | congestion | |
| R3 | 1.6250 | break level | S2 | 1.6100 | * | congestion | ||
| R2 | 1.6220 | * | 38.2% ret of Oct-Dec fall | S3 | 1.6061/65 | * | 8-31 Dec (m) lows | |
| R1 | 1.6200 | * | congestion | S4 | 1.6035 | ** | 61.8% ret of Jul-Oct rally |
Asterisk denotes strength
12:15 GMT - Cautious trade within resistance at 1.6200/20 is giving way to a drift lower, as overbought intraday studies unwind, with prices currently trading around 1.6190. Support is down to congestion around 1.6150. But positive daily readings and unwinding oversold weekly stochastics should limit any tests in renewed buying interest/consolidation. Following cautious trade, fresh gains are looked for. A break above the 1.6220 Fibonacci retracement will open up 1.6250/65. However, the bearish weekly Tension Indicator and negative longer-term charts are expected to limit any tests in profit-taking/consolidation.