Published: 2026-05-28T16:07:17.000Z
Chart USD/CAD Update: Sharp pullback from the 1.3870 Fibonacci retracement
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The anticipated break above 1.3840 has met selling interest at the 1.3870 Fibonacci retracement
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3965 | ** | 31 Mar YTD high | S1 | 1.3800 | * | congestion | |
| R3 | 1.3900 | ** | congestion | S2 | 1.3750 | congestion | ||
| R2 | 1.3870 | ** | 76.4% ret of Mar-May fall | S3 | 1.3730 | * | recent lows | |
| R1 | 1.3840 | intraday break level | S4 | 1.3700 | ** | congestion |
Asterisk denotes strength of level
16:35 BST - The anticipated break above 1.3840 has met selling interest at the 1.3870 Fibonacci retracement, with prices falling sharply to congestion support at 1.3800 as overbought intraday studies unwind. Overbought daily stochastics are unwinding, suggesting room for a break beneath here towards further congestion around 1.3750. But the positive daily Tension Indicator and rising weekly charts should limit any immediate tests in fresh consolidation. Meanwhile, resistance remains within the 1.3840 - 1.3870 range, and should cap any immediate retests higher.