Published: 2026-07-30T16:28:24.000Z
Chart USD/CAD Update: Poised for deeper losses
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Cautious trade has given way to a sharp drop in heightened global volatility
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4200 | ** | congestion | S1 | 1.4000 | ** | break level | |
| R3 | 1.4150 | * | congestion base | S2 | 1.3980 | ** | 38.2% ret of May-Jun rally | |
| R2 | 1.4100 | * | congestion | S3 | 1.3930 | intraday lows | ||
| R1 | 1.4050 | break level | S4 | 1.3900 | ** | congestion, 50% ret |
Asterisk denotes strength of level
16:55 BST - Cautious trade has given way to a sharp drop in heightened global volatility, with prices currently pressuring support at 1.4000. Daily readings are under pressure and broader weekly charts are falling, highlighting room for further losses in the coming sessions. A break will open up the 1.3980 Fibonacci retracement, with a further close beneath here adding weight to sentiment and extending late-June losses towards 1.3900. Meanwhile, resistance is at 1.4050. A close above here would help to stabilise price action and prompt consolidation beneath congestion around 1.4100.