Published: 2025-07-30T15:52:46.000Z
Chart USD/CAD Update: Extending June gains
Senior Technical Strategist
2
Consolidation above 1.3750 is giving way to fresh gains
| 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
16:40 BST - Consolidation above 1.3750 is giving way to fresh gains, with prices currently trading just above congestion resistance at 1.3800. Daily stochastics and the daily Tension Indicator continue to rise, and broader weekly charts are also improving, but a close above here is needed to confirm continuation of June gains, initially to the 1.3860 weekly high of 29 May. Meanwhile, a close back below congestion support at 1.3700, if seen, will turn sentiment neutral and prompt consolidation above further congestion around 1.3600.