Published: 2024-10-09T07:17:33.000Z
Chart USD/CAD Update: Extending gains
Technical Analyst
5
Extending gains and break above the September high at 1.3650 see room to the 1.3680/1.3700 resistance
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.3845 | * | Apr high | S1 | 1.3600 | * | congestion | |
R3 | 1.3800 | * | congestion | S2 | 1.3550/40 | ** | congestion, 1 Oct high | |
R2 | 1.3750 | * | congestion | S3 | 1.3500 | * | figure | |
R1 | 1.3700 | * | figure, congestion | S4 | 1.3472 | * | 2 Oct low |
Asterisk denotes strength of level
07:10 GMT - Extending gains and break above the September high at 1.3650 see room to the 1.3680/1.3700 resistance. The daily studies continue to track higher and break here will see room for extension to the 1.3750 congestion and the 1.3800 level. However, gains are seen corrective of losses from the August high and lower high sought for pullback later retest the 1.3600 level. Below the latter will see scope to the strong support at the 1.3550/40 area. Break here will return focus to the downside for retest of the 1.3472 support then the 1.3420, September low.