EURCAD London briefing — 2026-07-22

BIAS BEARISH. D1 structure confirms downtrend; H4/H1 EMA divergence and neutral RSI suggest weakness, not reversal conviction yet. KEY LEVELS R: 1.61, 1.615, 1.62722 | S: 1.605, 1.6, 1.59935 NEWS 🔴 ECB Main Refinancing Operations Rate (EUR) — Thu 23 Jul 12:15 UTC 🔴 ECB Monetary Policy Statement (EUR) — Thu 23 Jul 12:15 UTC 🔴 ECB Rate On Deposit Facility (EUR) — Thu 23 Jul 12:15 UTC SESSION OUTLOOK London session likely quiet ahead of tomorrow's ECB. Watch 1.605 support; break below locks bearish bias. Resistance holds above 1.61. PRO UNLOCKS Entry zones, stop placement, profit targets,

Key Levels

R: 1.61000 · 1.61500 · 1.62722

S: 1.60500 · 1.60000 · 1.59935