Published: 2026-01-02T12:14:58.000Z
Chart EUR/CAD Update: Strong support at 1.6061/65
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Cautious trade has given way to a drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6250 | congestion | S1 | 1.6061/65 | * | 8-31 Dec (m) lows | ||
| R3 | 1.6200 | * | congestion | S2 | 1.6035 | ** | 61.8% ret of Jul-Oct rally | |
| R2 | 1.6150 | * | congestion | S3 | 1.6000 | * | congestion | |
| R1 | 1.6100 | * | congestion | S4 | 1.5930 | ** | 76.4% ret of Jul-Oct rally |
Asterisk denotes strength
11:40 GMT - Cautious trade has given way to a drift lower, with prices currently balanced beneath 1.6100. Daily readings are under pressure, highlighting room for continuation down to the 1.6061/65 monthly lows from 8-31 December. Negative weekly charts point to room for a further break beneath here and extension of mid-October losses initially towards the 1.6035 Fibonacci retracement. Meanwhile, resistance is lowered to congestion around 1.6100. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath further congestiona round 1.6150.