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Published: 2025-09-05T16:00:33.000Z

Chart USD/CAD Update: Choppy trade - gains to remain limited

byMike Macdonald

Senior Technical Strategist
1

Cautious trade around 1.3840 has given way to a sharp break lower

 Levels ImpComment   Levels ImpComment 
R4 1.4200**congestion S1 1.3800*congestion
R3 1.4170**50% ret of Feb-Jun fall S2 1.3725*29 Aug (w) low
R2 1.4000/20**break level; 38.2% ret S3 1.3700**congestion
R1 1.3900**break level S4 1.3600**congestion

Asterisk denotes strength of level

16:20 BST - Cautious trade around 1.3840 has given way to a sharp break lower, with prices spiking down to 1.3820~ before bouncing back to trade around 1.3825. Oversold daily stochastics are unwinding, suggesting room for fresh gains. But the daily Tension Indicator is coming under renewed pressure and weekly stochastics are flat in overbought areas, pointing to profit-taking pressure towards resistance at 1.3900. Meanwhile, a close below 1.3800 will turn sentiment neutral once again and give way to consolidation above strong support at 1.3700/25.

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Topics
USD/CAD-TA
Free-Tactical-TA
DM-Technical
Technical Analysis

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