Published: 2026-08-05T16:03:03.000Z
Chart USD/CAD Update: Lower in range - background studies under pressure
1
Cautious trade has given way to a sharp pullback in CAD-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4150 | * | congestion base | S1 | 1.4000 | ** | break level | |
| R3 | 1.4130 | * | 28 Jul (w) high | S2 | 1.3980 | ** | 38.2% ret of May-Jun rally | |
| R2 | 1.4100 | * | congestion | S3 | 1.3930 | intraday lows | ||
| R1 | 1.4050 | break level | S4 | 1.3900 | ** | congestion, 50% ret |
Asterisk denotes strength of level
16:45 BST - Cautious trade has given way to a sharp pullback in CAD-driven trade, with the break below 1.4050 putting focus on support at the 1.3980 Fibonacci retracement and the 1.4000 break level. Daily studies are mixed, suggesting any immediate tests could be limited in fresh consolidation. However, deteriorating weekly charts point to a later break and extension of late-June losses towards 1.3900. Meanwhile, a close back above 1.4050 would help to stabilise sentiment and prompt consolidation beneath congestion around 1.4100.