Published: 2025-03-24T16:14:27.000Z
Chart USD/CAD Update: Leaning lower
Senior Technical Strategist
-
Still little change, as prices extend cautious trade above support at 1.4300
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4600 | figure | S1 | 1.4300 | * | break level | ||
| R3 | 1.4542 | * | 4 Mar (w) high | S2 | 1.4237 | * | 6 Mar (w) low | |
| R2 | 1.4500 | ** | congestion | S3 | 1.4150 | ** | 14 Feb YTD low | |
| R1 | 1.4400 | * | break level | S4 | 1.4100/10 | ** | congestion; 50% ret |
Asterisk denotes strength of level
16:10 GMT - Still little change, as prices extend cautious trade above support at 1.4300. Intraday studies have turned down once again, and daily readings are also coming under pressure, highlighting a deterioration in sentiment and room for fresh losses in the coming sessions. A break below 1.4300 will open up the 1.4237 weekly low of 6 March. Negative weekly charts highlight room for a later break beneath here extension of March losses towards critical support at the 1.4150 current year low of 14 February. Meanwhile, resistance remains at 1.4400 and should cap any immediate tests higher.