Published: 2025-07-24T15:53:10.000Z
Chart USD/CAD Update: Gains to remain limited
Senior Technical Strategist
1
Consolidation around congestion support at 1.3600 is giving way to a bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3900 | * | break level | S1 | 1.3600 | ** | congestion | |
| R3 | 1.3860 | * | 29 May (w) high | S2 | 1.3550 | * | congestion | |
| R2 | 1.3800 | * | congestion | S3 | 1.3500 | * | congestion | |
| R1 | 1.3700 | ** | congestion | S4 | 1.3420 | ** | 25 Sep (m) low |
Asterisk denotes strength of level
16:30 BST - Consolidation around congestion support at 1.3600 is giving way to a bounce, as intraday studies track higher, with prices currently trading around 1.3640. Daily stochastics and the daily Tension Indicator continue to track lower, however, suggesting room for renewed selling interest towards congestion resistance at 1.3700. Meanwhile, support remains at 1.3600 and extends to further congestion around 1.3550. Rising weekly charts are expected to limit any initial tests of this range in consolidation, before bearish longer-term readings prompt a break.