Published: 2026-06-23T12:04:19.000Z
Chart EUR/CAD Update: Under pressure in EUR-driven trade
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Cautious trade is giving way to fresh losses in EUR-driven trade, with the break below 1.6200 opening up a test of 1.6150
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6393 | ** | 27 Jan YTD high | S1 | 1.6150 | * | break level | |
| R3 | 1.6300 | ** | congestion | S2 | 1.6100 | ** | break level | |
| R2 | 1.6250~ | ** | 14 Apr (m) high | S3 | 1.6050 | congestion | ||
| R1 | 1.6200 | ** | congestion | S4 | 1.6035 | * | 8 Jun (m) low |
Asterisk denotes strength
12:40 BST - Cautious trade is giving way to fresh losses in EUR-driven trade, with the break below 1.6200 opening up a test of 1.6150. Daily readings have turned bearish and overbought weekly stochastics are flattening, highlighting room for a break beneath here and a deeper retracement towards 1.6100. Meanwhile, resistance is lowered to congestion around 1.6200. A close back above here, if seen, will help to stabilise sentiment and prompt fresh consolidation beneath strong resistance at the 1.6250~ monthly high of 14 April.