Published: 2025-07-28T16:00:24.000Z
Chart USD/CAD Update: Extending gains
Senior Technical Strategist
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The anticipated test of 1.3700 has extended to 1.3740~
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4000 | ** | break level | S1 | 1.3700 | ** | congestion | |
| R3 | 1.3900 | * | break level | S2 | 1.3600 | ** | congestion | |
| R2 | 1.3860 | * | 29 May (w) high | S3 | 1.3550 | * | congestion | |
| R1 | 1.3800 | * | congestion | S4 | 1.3500 | * | congestion |
Asterisk denotes strength of level
16:30 BST - The anticipated test of 1.3700 has extended to 1.3740~, where overbought intraday studies are prompting short-term reactions. Daily stochastics and the daily Tension Indicator continue to rise, highlighting room for still further gains towards congestion resistance at 1.3800. Broader weekly charts are also improving, but a close above here is needed to turn sentiment positive and confirm continuation of June gains, initially to the 1.3860 weekly high of 29 May. Meanwhile, a close back below congestion support at 1.3700 will turn sentiment neutral and prompt consolidation above further congestion around 1.3600.