Published: 2024-09-09T15:31:59.000Z
Chart USD/CAD Update: Consolidating gains - strong resistance at 1.3600/30
Senior Technical Strategist
6
Little change, as flattening overbought intraday studies prompt consolidation beneath resistance at 1.3600
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3650 | * | pivot | S1 | 1.3500 | * | congestion | |
| R3 | 1.3630 | ** | 38.2% ret of Aug fall | S2 | 1.3465 | * | 6 Sep (w) low | |
| R2 | 1.3600 | ** | break level | S3 | 1.3436 | ** | 28 Aug (m) low | |
| R1 | 1.3582 | 6 Sep (w) high | S4 | 1.3400 | * | congestion |
Asterisk denotes strength of level
16:20 BST - Little change, as flattening overbought intraday studies prompt consolidation beneath resistance at 1.3600. Daily readings continue to strengthen, highlighting room for a break above here towards the 1.3630 Fibonacci retracement. But mixed/negative weekly charts are expected to limit any tests of this 1.3600/30 area in renewed consolidation. Meanwhile, support remains at congestion around 1.3500 and should underpin any immediate tests lower.