Published: 2025-03-13T16:31:19.000Z
Chart USD/CAD Update: Consolidating
Senior Technical Strategist
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Little change, as prices extend cautious trade around resistance at 1.4400
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4600 | figure | S1 | 1.4300 | * | break level | ||
| R3 | 1.4542 | * | 4 Mar (w) high | S2 | 1.4237 | * | 6 Mar (w) low | |
| R2 | 1.4500 | ** | congestion | S3 | 1.4150 | ** | 14 Feb YTD low | |
| R1 | 1.4400 | * | break level | S4 | 1.4100/10 | ** | congestion; 50% ret |
Asterisk denotes strength of level
16:05 GMT - Little change, as prices extend cautious trade around resistance at 1.4400. Intraday studies have ticked higher, suggesting potential for a test above here. But negative daily readings are expected to limit scope in fresh consolidation beneath congestion resistance at 1.4500. Broader weekly charts are mixed/positive. But a close above the 1.4542 weekly high of 4 March is needed to turn sentiment positive and extend February gains towards 1.4600. Meanwhile, support remains down to 1.4300 and should underpin any immediate setbacks.