Published: 2025-06-30T15:38:28.000Z
Chart USD/CAD Update: Leaning lower
Senior Technical Strategist
2
Cautious trade is giving way to a drift lower in both USD- and CAD-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3900 | * | congestion | S1 | 1.3600 | ** | congestion | |
| R3 | 1.3860 | * | 29 May (w) high | S2 | 1.3550 | * | congestion | |
| R2 | 1.3800 | congestion | S3 | 1.3500 | * | congestion | ||
| R1 | 1.3700 | ** | congestion | S4 | 1.3420 | ** | 25 Sep (m) low |
Asterisk denotes strength of level
16:30 BST - Cautious trade is giving way to a drift lower in both USD- and CAD-driven trade, with focus turning back to congestion support at 1.3600. Daily readings are under pressure, highlighting room for a break towards further congestion around 1.3550. But mixed weekly charts are expected to limit any initial tests in fresh consolidation, before negative longer-term charts prompt a break and extend broad February losses initially towards 1.3500. Meanwhile, a close back above congestion resistance at 1.3700, if seen, will help to stabilise price action and prompt consolidation beneath further congestion around 1.3800.