Published: 2025-02-25T16:52:38.000Z
Chart USD/CAD Update: Higher in CAD-driven trade
Senior Technical Strategist
5
Cautious trade has given way to a sharp CAD-driven break higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4500 | ** | congestion | S1 | 1.4175 | break level | ||
| R3 | 1.4470 | * | congestion tops | S2 | 1.4100/10 | ** | congestion; 50% ret | |
| R2 | 1.4400 | break level | S3 | 1.4000 | ** | break level | ||
| R1 | 1.4300 | * | congestion lows | S4 | 1.3950 | ** | 61.8% ret of Sep-Feb rally |
Asterisk denotes strength of level
16:40 GMT - Cautious trade has given way to a sharp CAD-driven break higher, with prices currently pressuring resistance at 1.4300. Intraday studies have ticked higher and daily readings continue to strengthen, highlighting room for a break above here. Focus will then turn to 1.4400, but overbought daily stochastics and mixed/negative weekly charts are expected to limit any initial tests in fresh consolidation. Meanwhile, support remains down to the 1.4175 break level and should underpin any immediate setbacks.