Published: 2025-12-16T11:55:45.000Z
Chart EUR/CAD Update: Potential for a break above 1.6200
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Cautious trade is giving way to a test of congestion resistance at 1.6200
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6340 | * | 13 Nov (m) high | S1 | 1.6100 | * | congestion | |
| R3 | 1.6300 | * | congestion | S2 | 1.6065 | * | 8 Dec (w) low | |
| R2 | 1.6250 | congestion | S3 | 1.6035 | ** | 61.8% ret of Jul-Oct rally | ||
| R1 | 1.6200 | * | congestion | S4 | 1.6000 | * | congestion |
Asterisk denotes strength
11:20 GMT - Cautious trade is giving way to a test of congestion resistance at 1.6200. Rising daily stochastics and a tick higher in the daily Tension Indicator highlight potential for a test above here. But mixed/negative weekly charts should limit any break in renewed selling interest/consolidation beneath further congestion around 1.6250. Meanwhile, support remains at congestion around 1.6100. But a close below the 1.6065 weekly low of 8 December is needed to turn sentiment negative and extend mid-October losses towards the 1.6035 Fibonacci retracement.