Published: 2025-05-21T08:10:37.000Z
Chart USD/CAD Update: Extending rejection from 1.4000/25 resistance
Technical Analyst
3
Consolidation below the 1.4000/25 resistance has given way to selling pressure to break the 1.3900 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4150 | ** | Feb low, 50% | S1 | 1.3850 | * | congestion | |
| R3 | 1.4100 | * | congestion | S2 | 1.3800 | * | congestion | |
| R2 | 1.4050 | * | 38.2% Mar/May fall | S3 | 1.3750 | ** | 6 May YTD low | |
| R1 | 1.4000/25 | * | congestion, 3 Apr low | S4 | 1.3700 | * | congestion |
Asterisk denotes strength of level
08:00 GMT - Consolidation below the 1.4000/25 resistance has given way to selling pressure to break the 1.3900 support as prices unwind the overbought daily studies. Lower will see room to support at the 1.3850/1.3800 congestion area and where break will expose the 6 May YTD low at 1.3750 to retest. Below this will see deeper pullback to retrace the September/February rally. Meanwhile, resistance at the 1.4000/25 congestion and 3 April low, is expected to cap and sustain losses from the February high. Clearance here, if seen, will open up room for stronger corrective bounce.