Published: 2025-05-23T07:07:46.000Z
Chart USD/CAD Update: Under pressure, focus on 1.3750 low
Technical Analyst
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Under pressure as prices extend rejection from the 1.4000/25 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4150 | ** | Feb low, 38.2% | S1 | 1.3800 | * | congestion | |
| R3 | 1.4100 | * | congestion | S2 | 1.3750 | ** | 6 May YTD low | |
| R2 | 1.4000/25 | ** | congestion, 3 Apr low | S3 | 1.3700 | * | congestion | |
| R1 | 1.3900 | * | 23 Apr high, congestion | S4 | 1.3650/45 | * | congestion, 19 Sep high |
Asterisk denotes strength of level
06:50 GMT - Under pressure as prices extend rejection from the 1.4000/25 resistance to approach support at 1.3800 congestion. Below this will expose the 6 May YTD low at 1.3750 to retest. Break here will extend losses from the losses from the 3rd February YTD high at 1.4793 to retrace gains from the September low to the 1.3700 level and 1.3650/45 area. Meanwhile, resistance is at the 1.3900 congestion which is expected to cap and sustain losses from strong resistance at 1.4000/25 congestion and 3 April low.