Published: 2025-01-28T12:39:13.000Z
Chart EUR/CAD Update: Turning away from 1.5100
Senior Technical Strategist
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The anticipated test above congestion resistance at 1.5100 has been pushed back from 1.5129
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5227 | ** | 5 Aug 2024 (y) high | S1 | 1.5000 | ** | congestion | |
| R3 | 1.5169 | ** | 4 Nov (m) high | S2 | 1.4900 | ** | break level | |
| R2 | 1.5129 | * | 27 Jan high | S3 | 1.4800 | * | congestion | |
| R1 | 1.5100 | * | congestion | S4 | 1.4700 | * | congestion |
Asterisk denotes strength
12:15 GMT - The anticipated test above congestion resistance at 1.5100 has been pushed back from 1.5129, as intraday studies turn down, with prices currently balanced around 1.5020. Overbought daily stochastics are turning down, highlighting potential for a test beneath here. But rising weekly charts are expected to prompt renewed buying interest/consolidation towards 1.4900. Meanwhile, any immediate tests higher should meet fresh selling interest towards 1.5100.