Published: 2025-03-26T11:30:15.000Z
Chart EUR/CAD Update: Prices remain under pressure
Senior Technical Strategist
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Consolidation is giving way to further losses
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5700 | break level | S1 | 1.5300 | * | 50% ret of Feb-Mar rally | ||
| R3 | 1.5600 | * | congestion | S2 | 1.5170 | ** | 61.8% ret, multi-month range high | |
| R2 | 1.5500 | ** | congestion | S3 | 1.5000 | ** | 76.4% ret, congestion | |
| R1 | 1.5400 | * | congestion | S4 | 1.4900 | congestion |
Asterisk denotes strength
11:00 GMT - Consolidation is giving way to further losses, as intraday studies continue to fall, with the break below 1.5400 adding weight to already bearish price action. Prices are currently trading around 1.5375, but negative daily readings and unwinding overbought weekly stochastics highlight room for still further losses. Next support is at the 1.5300 Fibonacci retracement, but already oversold daily stochastics could prompt consolidation around here, before March losses extend still further. Meanwhile, a close back above 1.5400, if seen, will stabilise price action and prompt consolidation beneath congestion around 1.5500.