Published: 2025-06-25T15:33:48.000Z
Chart USD/CAD Update: Higher in range
Senior Technical Strategist
1
Cautious trade is giving way to a minor bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4000 | ** | congestion | S1 | 1.3700 | ** | congestion | |
| R3 | 1.3900 | * | congestion | 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
16:20 BST - Cautious trade is giving way to a minor bounce, as intraday studies turn higher, with prices currently trading around 1.3750. Focus is on congestion resistance at 1.3800. But flat overbought daily stochastics are expected to limit any initial tests in consolidation, before the rising daily Tension Indicator and positive weekly charts prompt a break. A later close above here will improve price action and open up the 1.3860 weekly high of 29 May. Meanwhile, support remains down to congestion around 1.3700 and should underpin any immediate downside tests.