Published: 2025-03-05T16:55:18.000Z
Chart USD/CAD Update: Studies leaning lower
Senior Technical Strategist
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Little change, as prices extend cautious trade around support at 1.4400
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4600 | * | figure | S1 | 1.4400 | * | break level | |
| R3 | 1.4540 | 3 Mar high | S2 | 1.4300 | * | break level | ||
| R2 | 1.4500 | ** | congestion | S3 | 1.4175 | ** | break level | |
| R1 | 1.4470 | * | congestion tops | S4 | 1.4100/10 | ** | congestion; 50% ret |
Asterisk denotes strength of level
16:40 GMT - Little change, as prices extend cautious trade around support at 1.4400. Intraday studies have turned down and overbought daily stochastics are unwinding, highlighting room for a break beneath here. Focus will then turn to 1.4300. But the rising daily Tension Indicator and unwinding oversold weekly stochastics are expected to limit any initial tests in fresh consolidation. Meanwhile, resistance remains at 1.4470 - 1.4500, and should cap any immediate tests higher.