Published: 2025-08-11T11:40:28.000Z
Chart EUR/CAD Update: Consolidating - studies leaning lower
Senior Technical Strategist
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Little change, as prices extend cautious trade above congestion support at 1.6000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6235 | ** | 76.4% ret of 2008-2012 fall | S1 | 1.6000 | ** | congestion | |
| R3 | 1.6150~ | ** | March 2018 (y) high | S2 | 1.5900 | congestion | ||
| R2 | 1.6100/18 | ** | cong; 28 Jul YTD high | S3 | 1.5800 | congestion | ||
| R1 | 1.6050~ | 7 Aug high | S4 | 1.5765~ | 30 Jul low |
Asterisk denotes strength
12:05 BST - Little change, as prices extend cautious trade above congestion support at 1.6000. Intraday studies are leaning lower and rising daily stochastics are flattening, suggesting potential for a test. But the rising daily Tension Indicator is expected to limit any initial break in fresh consolidation above further congestion around 1.5900, before negative weekly charts prompt deeper losses. Meanwhile, resistance is up to congestion around 1.6100 and the 1.6118 current year high of 28 July. This range should cap any immediate tests higher.