Published: 2025-08-07T15:58:05.000Z
Chart USD/CAD Update: Choppy trade - daily studies under pressure
Senior Technical Strategist
2
The pullback towards congestion support at 1.3700 has bounced from 1.3720
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4000 | ** | break level | S1 | 1.3700 | ** | congestion | |
| R3 | 1.3900 | * | break level | S2 | 1.3600 | ** | congestion | |
| R2 | 1.3860 | * | 29 May (w) high | S3 | 1.3550 | * | congestion | |
| R1 | 1.3800 | * | congestion | S4 | 1.3540 | ** | 16 Jun YTD low |
Asterisk denotes strength of level
16:45 BST - The pullback towards congestion support at 1.3700 has bounced from 1.3720, as oversold intraday studies unwind, with prices currently balanced in choppy trade around 1.3750. Daily readings continue to track lower, suggesting room for a later test of 1.3700. But rising weekly charts should limit any deeper losses in renewed buying interest above congestion around 1.3600. Meanwhile, resistance remains at congestion around 1.3800 and extends to the 1.3860 weekly high of 29 May. This broad range should cap any immediate tests higher.