Published: 2025-03-26T16:53:39.000Z
Chart USD/CAD Update: Prices under pressure
Senior Technical Strategist
2
Anticipated losses have reached support at the 1.4237 weekly low of 6 March
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4542 | * | 4 Mar (w) high | S1 | 1.4237 | * | 6 Mar (w) low | |
| R3 | 1.4500 | ** | congestion | S2 | 1.4150 | ** | 14 Feb YTD low | |
| R2 | 1.4400 | * | break level | S3 | 1.4100/10 | ** | congestion; 50% ret | |
| R1 | 1.4300 | * | break level | S4 | 1.4000 | ** | congestion |
Asterisk denotes strength of level
16:40 GMT - Anticipated losses have reached support at the 1.4237 weekly low of 6 March, where unwinding oversold intraday studies are prompting short-term reactions. Daily readings continue to point lower and broader weekly charts are negative, highlighting potential for a later break beneath here and extension of March losses towards critical support at the 1.4150 current year low of 14 February. Meanwhile, resistance is lowered to 1.4300. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath 1.4400.