Published: 2026-07-28T15:30:18.000Z
Chart USD/CAD Update: Choppy in range - background studies under pressure
1
Consolidation above 1.4100 has given way to a sharp break lower in both USD- and CAD-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4248 | ** | 24 Jun YTD high | S1 | 1.4050 | break level | ||
| R3 | 1.4200 | ** | congestion | S2 | 1.4000 | ** | break level | |
| R2 | 1.4150 | * | congestion base | S3 | 1.3980 | ** | 38.2% ret of May-Jun rally | |
| R1 | 1.4100 | * | congestion | S4 | 1.3930 | intraday lows |
Asterisk denotes strength of level
16:20 BST - Consolidation above 1.4100 has given way to a sharp break lower in both USD- and CAD-driven trade, with prices currently trading around 1.4090. Intraday studies are falling, putting focus on support at 1.4050. But rising daily readings should limit any initial tests in consolidation, before deteriorating weekly charts prompt a further break towards critical support at the 1.3980 Fibonacci retracement and 1.4000. Meanwhile, any fresh tests above 1.4100 should be limited in renewed selling interest beneath 1.4150.