Chart EUR/CAD Update: Extending consolidation at fresh 2025 year highs
Still little change, as prices extend consolidation around fresh 2025 year highs at 1.6184 and historic congestion around 1.6200
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6300 | * | historic congestion | S1 | 1.6100 | ** | congestion | |
| R3 | 1.6235 | ** | 76.4% ret of 2008-2012 fall | S2 | 1.6000 | ** | congestion | |
| R2 | 1.6200 | * | historic congestion | S3 | 1.5900 | congestion | ||
| R1 | 1.6184 | * | 20 Aug YTD high | S4 | 1.5800 | congestion |
Asterisk denotes strength
11:35 BST - Still little change, as prices extend consolidation around fresh 2025 year highs at 1.6184 and historic congestion around 1.6200. Overbought daily stochastics are flat and the rising daily Tension Indicator is flattening, highlighting a cautious tone and room for further consolidation. However, broader weekly charts continue to rise, suggesting room for a later break above this range and extension of 2022 gains towards the 1.6235 Fibonacci retracement. Meanwhile, support remains at congestion around 1.6100. A close beneath here, if seen, will add weight to sentiment and open up further congestion around 1.6000. Any tests should give way to fresh buying interest/consolidation.