Published: 2025-06-11T15:40:10.000Z
Chart USD/CAD Update: Consolidating - background studies under pressure
Senior Technical Strategist
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Little change, as prices extend consolidation following the test above congestion resistance at 1.370
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4000 | * | break level | S1 | 1.3635 | * | 5 Jun YTD low | |
| R3 | 1.3900 | * | congestion | S2 | 1.3600 | ** | congestion | |
| R2 | 1.3800 | congestion | S3 | 1.3550 | * | congestion | ||
| R1 | 1.3700 | ** | congestion | S4 | 1.3550 | * | congestion |
Asterisk denotes strength of level
16:30 BST - Little change, as prices extend consolidation following the test above congestion resistance at 1.3700. Daily readings are mixed, suggesting room for further range trade, before negative weekly readings prompt fresh losses. A later break below support at the 1.3635 current year low of 5 June will add weight to sentiment and extend February losses towards congestion support at 1.3600. Further slippage towards 1.3550 cannot be ruled out. Meanwhile, a close above 1.3700, if seen, would help to further stabilise price action and give way to congestion beneath 1.3800.