Published: 2025-05-27T15:39:28.000Z
Chart USD/CAD Update: Limited tests higher
Senior Technical Strategist
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The break below the 1.3745 Fibonacci retracement has bounced from 1.3700~
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4100 | break level | S1 | 1.3700 | ** | congestion | ||
| R3 | 1.4000 | * | break level | S2 | 1.3685 | 26 May low | ||
| R2 | 1.3900 | * | congestion | S3 | 1.3600 | ** | congestion | |
| R1 | 1.3800 | congestion | S4 | 1.3550 | break level |
Asterisk denotes strength of level
16:10 BST - The break below the 1.3745 Fibonacci retracement has bounced from 1.3700~, as intraday studies turn higher, with prices currently trading around 1.3760. Immediate focus is on congestion resistance at 1.3800. But negative daily readings and deteriorating weekly charts should limit any tests in renewed selling interest. Following cautious trade, fresh losses are looked for. A later close below 1.3700 will add weight to sentiment and extend February losses initially towards congestion around 1.3600. A close above 1.3800, if seen, will delay downside tests and prompt further consolidation beneath 1.3900.