Published: 2025-04-24T11:57:42.000Z
Chart EUR/CAD Update: Cautious trade - daily studies tracking lower
Senior Technical Strategist
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Little change, as prices extend cautious trade beneath congestion resistance at 1.5800
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5990/00 | ** | Mar 2020 (y) high; cong | S1 | 1.5700 | break level | ||
| R3 | 1.5960 | * | 21 Apr YTD high | S2 | 1.5600 | * | congestion | |
| R2 | 1.5900 | congestion | S3 | 1.5500 | ** | congestion | ||
| R1 | 1.5800 | congestion | S4 | 1.5400 | ** | congestion |
Asterisk denotes strength
12:45 BST - Little change, as prices extend cautious trade beneath congestion resistance at 1.5800. Rising intraday studies highlight potential for a test above here. But negative daily readings are expected to limit scope in renewed selling interest beneath further congestion around 1.5900. Following cautious/corrective trade, fresh losses are looked for. A break back below support at 1.5700 will open up congestion around 1.5600. However, rising weekly charts are expected to prompt fresh consolidation around here.