Published: 2026-05-20T11:14:48.000Z
Chart EUR/CAD Update: Limited tests higher - daily studies under pressure
1
The test of support at 1.5950 is giving way to a minor bounce from 1.5940
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6150 | * | break level | S1 | 1.5950 | * | break level | |
| R3 | 1.6100 | ** | break level | S2 | 1.5900 | congestion | ||
| R2 | 1.6050 | congestion | S3 | 1.5855 | ** | 61.8% ret of Mar-Apr rally | ||
| R1 | 1.6000 | * | break level | S4 | 1.5800 | ** | congestion |
Asterisk denotes strength
11:55 BST - The test of support at 1.5950 is giving way to a minor bounce from 1.5940, as intraday studies turn higher, with prices currently trading around 1.5965. Daily readings continue to track lower, however, pointing to room for a later break back beneath 1.5950 towards congestion around 1.5900. But rising weekly charts should limit any initial tests of here in fresh consolidation. Meanwhile, resistance remains at 1.6000. A close above here, if seen, would help to stabilise price action and prompt consolidation beneath 1.6050.