Published: 2026-05-18T10:40:32.000Z
Chart EUR/CAD Update: Room for lower
1
The anticipated break below 1.6000 has reached 1.59770~
| 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
11:15 BST - The anticipated break below 1.6000 has reached 1.59770~, where unwinding oversold intraday studies are prompting short-term reactions. Daily readings continue to point lower, highlighting room for continuation towards support at 1.5950. But rising weekly charts should limit any deeper losses in fresh consolidation above congestion support at 1.5900. Meanwhile, resistance is lowered to 1.6000. A close above here, if seen, would help to stabilise price action and prompt consolidation beneath 1.6050.