Published: 2025-09-29T08:18:10.000Z
Chart USD/CAD Update: Settled back from test of June channel reistance
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Turned lower from the 1.3958 high as prices consolidate test of the June channel resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4150/65 | * | Feb low, 50% | S1 | 1.3900 | congestion | ||
| R3 | 1.4100 | * | congestion | S2 | 1.3800 | * | Jun high, congestion | |
| R2 | 1.4000/20 | ** | congestion, 38.2% | S3 | 1.3720 | ** | Aug low | |
| R1 | 1.3958 | * | 26 Sep high | S4 | 1.3700 | * | congestion |
Asterisk denotes strength of level
08:10 GMT - Turned lower from the 1.3958 high as prices consolidate test of the June channel resistance and unwind intraday and daily studies. Pullback see support starting at the 1.3900 congestion with break here to open up room for deeper corrective pullback to the 1.3800 level. Meanwhile, resistance at the 1.3958 high is expected to cap. Clearance, if seen, will open up room for stronger gains to retrace the February/June losses to the 1.4000 level and 1.4020, 38.2% Fibonacci level. Gains beyond this, if seen, will open up room to the 1.4100 congestion.