Published: 2026-05-22T15:15:33.000Z
Chart USD/CAD Update: Extending May gains
1
Cautious trade is giving way to anticipated gains
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3900 | ** | congestion | S1 | 1.3730 | * | recent lows | |
| R3 | 1.3870 | ** | 76.4% ret of Mar-May fall | S2 | 1.3700 | ** | congestion | |
| R2 | 1.3840 | intraday break level | S3 | 1.3640 | break level | |||
| R1 | 1.3800/10 | ** | congestion; 61.8% ret | S4 | 1.3600 | ** | congestion |
Asterisk denotes strength of level
16:30 BST - Cautious trade is giving way to anticipated gains, with prices currently pressuring strong resistance at 1.3800/10. Daily readings are improving and broader weekly charts are rising, highlighting room for further strength in the coming sessions. A close above here will improve sentiment and extend May gains initially to 1.3840. Still higher is the 1.3870 Fibonacci retracement, but already overbought daily stochastics could prompt profit-taking/consolidation towards here. Meanwhile, support remains at 1.3730 and extends to congestion around 1.3700. This range should underpin any immediate setbacks.