Published: 2025-11-18T12:30:51.000Z
Chart EUR/CAD Update: Drifting lower
1
Cautious trade beneath congestion resistance at 1.6300 is giving way to fresh losses
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6468 | * | 17 Oct YTD high | S1 | 1.6200 | * | congestion | |
| R3 | 1.6400 | * | break level | S2 | 1.6135~ | ** | 3 Nov (w) low | |
| R2 | 1.6340 | * | 13 Nov (w) high | S3 | 1.6115 | ** | 50% ret of Jul-Oct rally | |
| R1 | 1.6300 | * | congestion | S4 | 1.6100 | * | congestion |
Asterisk denotes strength
11:50 GMT - Cautious trade beneath congestion resistance at 1.6300 is giving way to fresh losses, as intraday studies turn down, with prices currently trading around 1.6250. Overbought daily stochastics are unwinding, highlighting room for a break beneath here towards congestion support at 1.6200. But the positive daily Tension Indicator and mixed weekly charts should limit any initial tests in consolidation. Meanwhile, resistance remains at 1.6300 and extends to 1.6340. A close above, if seen, would improve sentiment and extend November gains towards 1.6400, where fresh selling interest is expected to appear.