Published: 2025-06-19T11:11:14.000Z
Chart EUR/CAD Update: Cautious trade
Senior Technical Strategist
-
Little change, as flat overbought intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5960 | ** | 21 Apr YTD high | S1 | 1.5700 | break level | ||
| R3 | 1.5900 | congestion | S2 | 1.5600 | * | congestion | ||
| R2 | 1.5843 | 12 Jun high | S3 | 1.5500 | ** | congestion | ||
| R1 | 1.5800 | congestion | S4 | 1.5400 | ** | congestion, 38.2% ret |
Asterisk denotes strength
11:45 BST - Little change, as flat overbought intraday studies keep near-term sentiment cautious and extend consolidation above support at 1.5700. Daily stochastics are ticking up, suggesting room for continuation higher. But the flat daily Tension Indicator and mixed/negative weekly charts are expected to limit scope in consolidation/selling interest towards congestion resistance at 1.5800. Meanwhile, a fresh break back below 1.5700 will open up congestion support at 1.5600, where renewed consolidation is expected to appear.