Published: 2025-07-04T15:08:25.000Z
Chart USD/CAD Update: June losses attempting to stabilise
Senior Technical Strategist
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Cautious trade is giving way to a test higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3860 | * | 29 May (w) high | S1 | 1.3550 | * | congestion | |
| R3 | 1.3800 | congestion | S2 | 1.3500 | * | congestion | ||
| R2 | 1.3700 | ** | congestion | S3 | 1.3420 | ** | 25 Sep (m) low | |
| R1 | 1.3600 | ** | congestion | S4 | 1.3365 | * | Feb 2024 (m) low |
Asterisk denotes strength of level
15:50 BST - Cautious trade is giving way to a test higher, as intraday studies turn up, prices currently pressuring congestion resistance at 1.3600. A break will open up further congestion around 1.3700. But negative daily readings are expected to prompt renewed selling interest and consolidation beneath here. Meanwhile, support remains at congestion around 1.3550 and extends to further congestion around 1.3500. Rising weekly charts should limit any tests of this range in fresh buying interest.