Published: 2026-07-20T15:52:17.000Z
Chart USD/CAD Update: Corrective gains to remain limited
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Consolidation above support at 1.4000 is giving way to a bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4248 | ** | 24 Jun YTD high | S1 | 1.4000 | ** | break level | |
| R3 | 1.4200 | ** | congestion | S2 | 1.3980 | ** | 38.2% ret of May-Jun rally | |
| R2 | 1.4150 | * | congestion base | S3 | 1.3930 | intraday lows | ||
| R1 | 1.4100 | * | congestion | S4 | 1.3900 | ** | congestion, 50% ret |
Asterisk denotes strength of level
16:40 BST - Consolidation above support at 1.4000 is giving way to a bounce, as intraday studies turn higher and oversold daily stochastics flatten, with prices currently trading around 1.4065. Immediate focus is on congestion resistance at 1.4100. But the bearish daily Tension Indicator and deteriorating weekly charts should limit any tests in renewed selling interest. Following corrective trade, fresh losses are looked for. A break below 1.4000 will open up the 1.3980 Fibonacci retracement. A further close beneath here will add weight to sentiment and extend June losses towards strong support at 1.3900.