Chart USD/CAD Update: Balanced at highs - background studies remain positive
Little change, as prices extend cautious trade beneath resistance at the 1.4248 monthly high of late-June and the 1.4260 current year high of 1 October
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4350 | * | congestion | S1 | 1.4200 | ** | congestion | |
| R3 | 1.4290 | ** | 61.8% ret of 2025-2026 fall | S2 | 1.4100 | minor congestion | ||
| R2 | 1.4260~ | * | 1 Oct YTD high | S3 | 1.4000 | ** | break level | |
| R1 | 1.4248 | * | 24-30 Jun (m) high | S4 | 1.3975 | * | recent range lows |
Asterisk denotes strength of level
16:10 BST - Little change, as prices extend cautious trade beneath resistance at the 1.4248 monthly high of late-June and the 1.4260 current year high of 1 October. Daily studies are mixed/positive and broader weekly charts continue to rise, highlighting room for further (CAD-driven) strength in the coming sessions. A break above 1.4260 will open up strong resistance at the 1.4290 Fibonacci retracement. Already overbought daily stochastics could prompt profit-taking towards here, before a break extends broad January gains towards 1.4350.
Meanwhile, support remains at congestion around 1.4200. A close beneath here, if seen, would stabilise price action and give way to consolidation above further congestion around 1.4100.