Chart EUR/CAD Update: Balanced at highs - room for a minor pullback
Little change, as prices extend cautious trade beneath strong resistance at the 1.6250~ monthly high of 14 April and the 1.6270 monthly high of 19 June
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.6393 | ** | 27 Jan YTD high | S1 | 1.6200 | ** | congestion | |
| R3 | 1.6300 | ** | congestion | S2 | 1.6150 | * | break level | |
| R2 | 1.6270 | ** | 19 Jun (m) high | S3 | 1.6125~ | * | 26 Jun (w) low | |
| R1 | 1.6250~ | ** | 14 Apr (m) high | S4 | 1.6100 | ** | break level |
Asterisk denotes strength
11:50 BST - Little change, as prices extend cautious trade beneath strong resistance at the 1.6250~ monthly high of 14 April and the 1.6270 monthly high of 19 June. Intraday studies are turning down, suggesting room for a minor pullback towards congestion support at 1.6200. But rising daily readings should limit any further losses in renewed buying interest/consolidation above 1.6150. Following cautious/corrective trade, fresh gains are looked for. However, a close above 1.6270 is needed to turn sentiment positive and extend March gains initially towards congestion around 1.6300.