Published: 2025-07-15T15:47:36.000Z
Chart USD/CAD Update: Pushing higher
Senior Technical Strategist
1
Cautious trade is giving way to a sharp break higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4000 | ** | break level | S1 | 1.3700 | ** | congestion | |
| R3 | 1.3900 | * | break level | S2 | 1.3600 | ** | congestion | |
| R2 | 1.3860 | * | 29 May (w) high | S3 | 1.3550 | * | congestion | |
| R1 | 1.3800 | * | congestion | S4 | 1.3500 | * | congestion |
Asterisk denotes strength of level
16:35 BST - Cautious trade is giving way to a sharp break higher, with prices currently trading above 1.3700. Daily readings have ticked higher and broader weekly charts continue to improve, highlighting room for continuation towards congestion resistance at 1.3800. However, already overbought daily stochastics are expected to limit any initial tests in consolidation, before June gains extend towards the 1.3860 weekly high of 29 May. Meanwhile, a break back below congestion support at 1.3700 would turn sentiment neutral once again, and prompt consolidation above further congestion around 1.3600.