Chart USD/CAD Update: Fresh year low - studies under pressure
The anticipated test of congestion support at 1.3700 has posted a fresh 2025 year low around 1.3675
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4100 | break level | S1 | 1.3700 | ** | congestion | ||
| R3 | 1.4000 | * | break level | S2 | 1.3675 | fresh YTD low | ||
| R2 | 1.3900 | * | congestion | S3 | 1.3600 | ** | congestion | |
| R1 | 1.3800 | congestion | S4 | 1.3550 | * | congestion |
Asterisk denotes strength of level
16:20 BST - The anticipated test of congestion support at 1.3700 has posted a fresh 2025 year low around 1.3675, before settling into consolidation as oversold intraday studies flatten. Daily readings have turned down and broader weekly charts are bearish, highlighting room for still further losses in the coming sessions. A close below 1.3700 will add weight to sentiment and extend February losses, initially towards congestion around 1.3600. Meanwhile, resistance remains at congestion around 1.3800. A close above here, if seen, would delay any immediate downside development and prompt consolidation beneath further congestion around 1.3900.