Chart USD/CAD Update: Consolidating - daily studies under pressure
Choppy trade around 1.4200 has given way to a pullback to the 1.4140 monthly high of 5 November
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4350 | * | congestion | S1 | 1.4140 | ** | 5 Nov (m) high | |
| R3 | 1.4290 | ** | 61.8% ret of 2025-2026 fall | S2 | 1.4000 | ** | break level | |
| R2 | 1.4248 | * | 24 Jun YTD high | S3 | 1.3930 | intraday lows | ||
| R1 | 1.4200 | * | congestion | S4 | 1.3900 | * | congestion |
Asterisk denotes strength of level
16:40 BST - Choppy trade around 1.4200 has given way to a pullback to the 1.4140 monthly high of 5 November, where rising intraday studies are prompting a bounce back to 1.4200. A test above here is possible. But bearish daily readings and flattening overbought weekly stochastics should limit scope in renewed selling interest/consolidation beneath critical resistance at the 1.4248 current year high of 24 June. In the coming sessions, a test below 1.4140 is looked for. But the positive weekly Tension Indicator and rising longer-term charts should limit scope in renewed buying interest above 1.4000. A close beneath here, however, would turn sentiment negative and confirm a deeper retracement from 1.4248.