Published: 2025-03-19T11:20:31.000Z
Chart EUR/CAD Update: Cautious trade - studies under pressure
Senior Technical Strategist
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Still little change, as mixed intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.5855 | ** | 11 Mar YTD high | S1 | 1.5600 | * | congestion | |
| R3 | 1.5825 | ** | August 2020 (m) high | S2 | 1.5500 | ** | congestion | |
| R2 | 1.5785 | ** | December 2020 (m) high | S3 | 1.5400 | * | congestion | |
| R1 | 1.5700 | break level | S4 | 1.5300 | * | congestion |
Asterisk denotes strength
10:55 GMT - Still little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation above congestion support at 1.5600. Daily readings continue to track lower, highlighting room for a fresh test beneath here towards further congestion around 1.5500. But rising weekly charts should prompt renewed buying interest/consolidation above here. Meanwhile, resistance is at 1.5700. A close above here would help to stabilise price action. But a close above stronger resistance within the 1.5785 - 1.5825 range is needed to turn sentiment positive once again and extend gains towards 1.6000.