Published: 2025-07-30T10:47:51.000Z
Chart EUR/CAD Update: Extending pressure on 1.5900
Senior Technical Strategist
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Little change, as rising intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6200 | historic congestion | S1 | 1.5900 | congestion | |||
| R3 | 1.6150~ | ** | March 2018 (y) high | S2 | 1.5815 | * | 38.2% ret of Mar-Jul rally | |
| R2 | 1.6100/18 | ** | cong; 28 Jul YTD high | S3 | 1.5800 | congestion | ||
| R1 | 1.6000 | ** | congestion | S4 | 1.5725 | * | 50% ret of Mar-Jul rally |
Asterisk denotes strength
11:30 BST - Little change, as rising intraday studies keep near-term sentiment cautious and extend consolidation above congestion support at 1.5900. Daily readings are falling and broader weekly charts are also under pressure, highlighting room for fresh losses in the coming sessions. A close below 1.5900 will turn sentiment outright negative and confirm a double top in place around 1.6100, completing a multi-week distribution top as focus then turns initially to the 1.5815 Fibonacci retracement and congestion around 1.5800. Meanwhile, resistance remains at congestion around 1.6000 and should cap any immediate tests higher.