Published: 2025-06-06T15:38:38.000Z
Chart USD/CAD Update: Limited tests higher
Senior Technical Strategist
6
The bounce from the 1.3635~ fresh 2025 year low of 5 June is giving way to choppy trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4000 | * | break level | S1 | 1.3635 | 5 Jun YTD low | ||
| R3 | 1.3900 | * | congestion | S2 | 1.3600 | ** | congestion | |
| R2 | 1.3800 | congestion | S3 | 1.3550 | * | congestion | ||
| R1 | 1.3700 | ** | congestion | S4 | 1.3550 | * | congestion |
Asterisk denotes strength of level
16:25 BST - The bounce from the 1.3635~ fresh 2025 year low of 5 June is giving way to choppy trade, following the test of congestion resistance at 1.3700. Intraday studies are rising, highlighting room for a test above here. But negative daily and weekly readings are expected to limit scope in renewed selling interest beneath congestion around 1.3800. Following cautious trade, fresh losses are looked for. A later break below 1.3635 will add weight to sentiment and extend February losses towards congestion support at 1.3600. Further slippage towards 1.3550 cannot be ruled out.