Chart USD/CAD Update: Fresh year high in USD- and CAD-driven trade
Consolidation beneath 1.4200 has given way to further gains in both USD- and CAD-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4400 | * | congestion | S1 | 1.4200 | ** | congestion | |
| R3 | 1.4350 | * | congestion | S2 | 1.4100 | minor congestion | ||
| R2 | 1.4290 | ** | 61.8% ret of 2025-2026 fall | S3 | 1.4000 | ** | break level | |
| R1 | 1.4260~ | fresh YTD high | S4 | 1.3975 | * | recent range lows |
Asterisk denotes strength of level
16:25 BST - Consolidation beneath 1.4200 has given way to further gains in both USD- and CAD-driven trade, with prices posting a fresh year high around 1.4260~ before settling into consolidation around 1.4250. Daily studies have turned positive and broader weekly charts continue to rise, highlighting room for further strength in the coming sessions. A break above 1.4260 will open up strong resistance at the 1.4290 Fibonacci retracement. Already overbought daily stochastics could prompt profit-taking towards here, before a break extends broad January gains towards 1.4350.
Meanwhile, support is raised to congestion around 1.4200. A close beneath here, if seen, would stabilise price action and give way to consolidation above further congestion around 1.4100.