Chart USD/CAD Update: Fresh 2025 lows in both USD- and CAD-driven trade
Choppy trade is giving way to a fresh 2025 year lows in both USD- and CAD-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4400 | * | break level | S1 | 1.4000 | * | break level | |
| R3 | 1.4300 | * | break level | S2 | 1.3950 | ** | 61.8% ret of Sep-Feb rally | |
| R2 | 1.4200 | congestion | S3 | 1.3900 | * | congestion | ||
| R1 | 1.4100 | break level | S4 | 1.3815 | ** | 6 Nov (m) low |
Asterisk denotes strength of level
16:40 BST - Choppy trade is giving way to a fresh 2025 year lows in both USD- and CAD-driven trade, with prices currently pressuring support at 1.4000. Daily readings have turned negative and broader weekly charts are bearish, highlighting room for further losses in the coming sessions. A break below 1.4000 will add weight to already bearish price action and extend February losses initially to the 1.3950 Fibonacci retracement. Beneath here is congestion around 1.3900. Meanwhile, resistance is lowered to 1.4100. An unexpected close above here will stabilise price action and prompt consolidation beneath congestion resistance at 1.4200.