EURCAD Asia briefing — 2026-05-07

BIAS BEARISH. D1 neutral dominates hierarchy; H1 bullish diverges from H4 neutral. RSI 71 overbought signals pullback risk. KEY LEVELS R: 1.605, 1.61, 1.62471 | S: 1.6, 1.595, 1.59052 NEWS 🟡 ECB De Guindos speech (07 May, 07:15 UTC) 🔴 Retail Sales YoY (07 May, 09:00 UTC) 🟡 Retail Sales MoM (07 May, 09:00 UTC) SESSION OUTLOOK Watch 1.605 resistance; weak EUR data could trigger sell-off toward 1.6. De Guindos dovish signals amplify downside risk. PRO UNLOCKS Entry 1.6045, SL 1.6089, TP

Key Levels

R: 1.60500 · 1.61000 · 1.62471

S: 1.60000 · 1.59500 · 1.59052