EURCAD London briefing — 2026-08-21

BIAS BULLISH — Daily structure uptrend, RSI neutral at midpoint avoids overbought traps, H1/H4 divergence resolved by higher timeframe bias. KEY LEVELS R: 1.61, 1.615, 1.62498 | S: 1.605, 1.6, 1.59784 NEWS 🔴 HCOB Composite/Manufacturing/Services PMI (EUR) — Fri 08:00 UTC SESSION OUTLOOK PMI data could trigger volatility; watch 1.61 resistance for breakout confirmation. Dips toward 1.605 support offer risk-defined entries if thesis holds.

Key Levels

R: 1.61000 · 1.61500 · 1.62498

S: 1.60500 · 1.60000 · 1.59784