EURCAD New York briefing — 2026-05-06

BIAS BEARISH. D1 structure commits downside despite neutral H4/H1; RSI overbought at 68.11 confirms rejection. KEY LEVELS R: 1.605, 1.61, 1.62471 | S: 1.6, 1.595, 1.59052 NEWS 🟡 Ivey PMI (CAD) Wed 14:00 UTC | 🟡 ECB De Guindos speech Thu 07:15 UTC SESSION OUTLOOK Ivey PMI critical for CAD strength. Watch rejection at 1.605 resistance; break below 1.6 targets support cascade into NY close. PRO UNLOCKS [Entry 1.604 / SL 1.6095 / TP1 1.595 / TP2 1.59052 / FVG 1.6012–1.5998 /

Key Levels

R: 1.60500 · 1.61000 · 1.62471

S: 1.60000 · 1.59500 · 1.59052