Published: 2026-11-02T18:18:54.000Z
Chart USD/CAD Update: Cautious trade - studies under pressure
1
Little change, as prices extend cautious trade within the 1.3950 - 1.4000 range
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4135 | * | break level | S1 | 1.3950 | ** | 61.8% ret of Aug-Oct rally | |
| R3 | 1.4100 | minor congestion | S2 | 1.3900 | * | congestion | ||
| R2 | 1.4050 | break level | S3 | 1.3870 | ** | 76.4% ret of Aug-Oct rally | ||
| R1 | 1.4000 | ** | congestion | S4 | 1.3800 | * | congestion |
Asterisk denotes strength of level
17:55 GMT - Little change, as prices extend cautious trade within the 1.3950 - 1.4000 range. Intraday studies have turned mixed/positive and oversold daily stochastics are flat, suggesting room for a test of congestion resistance at 1.4000. However, the bearish daily Tension Indicator and negative weekly charts should limit any break in renewed selling interest beneath 1.4050.
Following cautious/corrective trade, fresh losses are looked for. However, a close below the 1.3950 Fibonacci retracement is needed to add weight to sentiment and extend October losses towards congestion around 1.3900.