Published: 2025-06-17T11:46:10.000Z
Chart EUR/CAD Update: Cautious trade - room for a test lower
Senior Technical Strategist
1
Little change, as mixed intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5900 | congestion | S1 | 1.5600 | * | congestion | ||
| R3 | 1.5843 | 12 Jun high | S2 | 1.5500 | ** | congestion | ||
| R2 | 1.5800 | congestion | S3 | 1.5400 | ** | congestion, 38.2% ret | ||
| R1 | 1.5700 | break level | S4 | 1.5325 | ** | 27 Mar (w) low |
Asterisk denotes strength
12:35 BST - Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation beneath resistance at 1.5700. Overbought daily stochastics are turning down and the positive daily Tension Indicator is flattening, suggesting room for a drift lower in the coming sessions towards congestion support at 1.5600. Initial tests could give way to consolidation, before deteriorating weekly charts prompt a break towards further congestion around 1.5500. Meanwhile, a break back above 1.5700 should meet renewed selling interest towards congestion resistance at 1.5800.