Published: 2025-05-28T10:59:31.000Z
Chart EUR/CAD Update: Consolidating - limited tests higher
Senior Technical Strategist
-
Little change, as mixed intraday studies extend consolidation above congestion support at 1.5600
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5900 | congestion | S1 | 1.5600 | * | congestion | ||
| R3 | 1.5800 | congestion | S2 | 1.5500 | ** | congestion | ||
| R2 | 1.5760 | * | 21 May (w) high | S3 | 1.5400 | ** | congestion, 38.2% ret | |
| R1 | 1.5700 | break level | S4 | 1.5325 | ** | 27 Mar (w) low |
Asterisk denotes strength
11:45 BST - Little change, as mixed intraday studies extend consolidation above congestion support at 1.5600. Daily stochastics have ticked higher, highlighting potential for a test of resistance at 1.5700. But the flat daily Tension Indicator and negative weekly charts are expected to limit any break in renewed selling interest beneath the 1.5760 weekly high of 21 May. Following cautious trade, fresh losses are looked for. A later break below 1.5600 will add weight to sentiment and initially open up further congestion around 1.5500.