Published: 2025-07-11T15:38:56.000Z
Chart USD/CAD Update: Extending pressure on 1.3700 - potential for a test higher
Senior Technical Strategist
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Little change, as mixed/positive intraday studies keep near-term sentiment cautious
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3900 | * | break level | 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
16:05 BST - Little change, as mixed/positive intraday studies keep near-term sentiment cautious and extend pressure on congestion resistance at 1.3700. Daily readings are rising and broader weekly charts are improving, suggesting room for a break above here. However, negative longer-term readings are expected to limit scope in renewed selling interest beneath further congestion around 1.3800. Meanwhile, support remains at congestion around 1.3600 and extends to further congestion around 1.3550. This range should underpin any immediate setbacks.