EURCAD London briefing — 2026-08-12

BIAS BEARISH. D1 structure confirms downtrend; H1 EMA bearish despite H4 neutral and RSI at 38.69 suggests weak bounce potential rather than reversal conviction. KEY LEVELS R: 1.61, 1.615, 1.62498 | S: 1.605, 1.60113, 1.6 NEWS 🟡 Building Permits CAD (Wed 12:30 UTC) | 🟡 Industrial Production EUR (Thu 09:00 UTC) SESSION OUTLOOK London session tests 1.605 support as bears dominate. CAD data tonight could spark volatility; watch for rejection at 1.61 resistance.

Key Levels

R: 1.61000 · 1.61500 · 1.62498

S: 1.60500 · 1.60113 · 1.60000