Published: 2025-10-07T10:28:12.000Z
Chart EUR/CAD Update: Prices remain under pressure
1
The bounce from 1.6260 has given way to fresh losses in choppy trade
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6590 | ** | 61.8% ret of 1995-2012 fall | S1 | 1.6200 | * | congestion | |
| R3 | 1.6500 | * | historic congestion | S2 | 1.6150 | ** | 38.2% ret of Jul-Oct rally | |
| R2 | 1.6400 | ** | 3 Oct YTD high, congestion | S3 | 1.6100 | ** | congestion | |
| R1 | 1.6300 | * | historic congestion | S4 | 1.6000 | ** | congestion |
Asterisk denotes strength
11:05 BST - The bounce from 1.6260 has given way to fresh losses in choppy trade, with prices currently trading around 1.6285. Intraday studies are bearish and daily readings are also under pressure, highlighting room for further losses in the coming sessions. A break below 1.6260 will open up congestion around 1.6200. Beneath here is the 1.6150 Fibonacci retracement, but mixed weekly charts could limit any initial tests in fresh consolidation. Meanwhile, resistance remains up to the 1.6400 current year high of 3 October. A close above here, if seen, will turn sentiment positive and extend long-term gains towards historic congestion around 1.6500.