Published: 2026-07-29T11:24:23.000Z
Chart EUR/CAD Update: Consolidating - background studies under pressure
1
Little change, as prices extend cautious trade around 1.6050
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6250~ | ** | 14 Apr (m) high | S1 | 1.6020 | * | 38.2% ret of Mar-Jun rally | |
| R3 | 1.6200 | ** | congestion | S2 | 1.6000 | ** | congestion | |
| R2 | 1.6150 | * | break level | S3 | 1.5940 | ** | 50% ret of Mar-Jun rally | |
| R1 | 1.6100 | ** | break level | S4 | 1.5900~ | ** | 4 May (m) low |
Asterisk denotes strength
11:50 BST - Little change, as prices extend cautious trade around 1.6050. Daily stochastics and the daily Tension Indicator are improving, suggesting room for a drift higher towards resistance at 1.6100. But negative weekly charts should limit any break in renewed selling interest/consolidation beneath 1.6150. Following cautious/corrective trade, fresh losses are looked for. Support is at congestion around 1.6000 and the 1.6020 Fibonacci retracement. A later close beneath here will add weight to sentiment and extend late-June losses towards the 1.5940 retracement.