Published: 2025-08-21T15:47:27.000Z
Chart USD/CAD Update: Poised for further gains
Senior Technical Strategist
1
Cautious trade is giving way to a test higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4200 | ** | congestion | S1 | 1.3800 | * | congestion | |
| R3 | 1.4170 | ** | 50% ret of Feb-Jun fall | S2 | 1.3700 | ** | congestion | |
| R2 | 1.4000/20 | ** | break level; 38.2% ret | S3 | 1.3600 | ** | congestion | |
| R1 | 1.3900 | ** | break level | S4 | 1.3550 | * | congestion |
Asterisk denotes strength of level
16:35 BST - Cautious trade is giving way to a test higher, with prices currently pressuring resistance at 1.3900. Daily readings continue to improve and broader weekly charts are also positive, highlighting room for a later break and continuation of June gains towards strong resistance at 1.4000/20. Flattening overbought weekly stochastics could limit any initial tests in fresh consolidation. Meanwhile, support remains at congestion around 1.3800. An unexpected close beneath here will turn sentiment neutral and prompt fresh consolidation above further congestion around 1.3700.