Published: 2026-01-16T12:13:08.000Z
Chart EUR/CAD Update: Leaning lower
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The anticipated break below 1.6150 has given way to consolidation above congestion support at 1.6100
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6300 | * | congestion | S1 | 1.6100 | * | congestion | |
| R3 | 1.6250 | break level | S2 | 1.6061/65 | * | 8-31 Dec (m) lows | ||
| R2 | 1.6200 | * | congestion | S3 | 1.6035 | ** | 61.8% ret of Jul-Oct rally | |
| R1 | 1.6150 | * | congestion | S4 | 1.6000 | ** | congestion |
Asterisk denotes strength
11:55 GMT - The anticipated break below 1.6150 has given way to consolidation above congestion support at 1.6100. A minor bounce is developing, as intraday studies improve, putting focus back on 1.6150. But daily readings have turned negative, suggesting difficulty sustaining any immediate break. In the coming sessions, a break below 1.6100 cannot be ruled out. But mixed weekly readings should limit initial scope in consolidation above critical support at 1.6061/65, before bearish longer-term charts prompt a break.