Published: 2026-05-07T11:24:24.000Z
Chart EUR/CAD Update: Consolidating gains - daily studies rising
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Little change, as sharp gains give way to consolidation beneath resistance at the 1.6040 high of 24 April
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6200 | ** | break level | S1 | 1.6000 | * | break level | |
| R3 | 1.6150 | * | break level | S2 | 1.5950 | * | break level | |
| R2 | 1.6100 | ** | break level | S3 | 1.5900 | congestion | ||
| R1 | 1.6040 | 24 Apr high | S4 | 1.5855 | ** | 61.8% ret of Mar-Apr rally |
Asterisk denotes strength
11:55 BST - Little change, as sharp gains give way to consolidation beneath resistance at the 1.6040 high of 24 April. Daily studies are rising, highlighting room for a later break above here towards 1.6100. But negative weekly charts should prompt renewed selling interest towards here and limit any immediate tests in consolidation. Meanwhile, support remains at 1.6000. A close beneath here would stabilise price action and give way to consolidation above 1.5950.