Published: 2025-07-17T15:55:12.000Z
Chart USD/CAD Update: Edging higher
Senior Technical Strategist
1
Cautious trade has given way to a push 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 has given way to a push higher, with prices currently trading around 1.3750. Rising intraday studies highlight potential for a test of congestion resistance at 1.3800. But flat overbought daily stochastics are expected to limit initial tests in consolidation, before the positive daily Tension Indicator and rising weekly charts prompt a break. A close above here would turn sentiment positive and extend June gains towards the 1.3860 weekly high of 29 May. Meanwhile, any retests below congestion support at 1.3600 should meet buying interest above further congestion around 1.3600.