Published: 2025-09-05T16:00:33.000Z
Chart USD/CAD Update: Choppy trade - gains to remain limited
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Cautious trade around 1.3840 has given way to a sharp break lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4200 | ** | congestion | S1 | 1.3800 | * | congestion | |
| R3 | 1.4170 | ** | 50% ret of Feb-Jun fall | S2 | 1.3725 | * | 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.