Chart USD/CAD Update: Fresh 2025 year low - studies under pressure
The anticipated break below the 1.3815 monthly low of 6 November has bounced from a fresh 2025 year low at 1.3780
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4200 | congestion | S1 | 1.3815 | ** | 6 Nov (m) low | ||
| R3 | 1.4100 | break level | S2 | 1.3780 | 21 Apr YTD low | |||
| R2 | 1.4000 | * | break level | S3 | 1.3745 | ** | 76.4% ret of Sep-Feb rally | |
| R1 | 1.3900 | * | congestion | S4 | 1.3700 | ** | congestion |
Asterisk denotes strength of level
16:40 BST -The anticipated break below the 1.3815 monthly low of 6 November has bounced from a fresh 2025 year low at 1.3780, as intraday studies turn mixed, with prices currently balanced around 1.3800/15. Daily readings are under pressure and broader weekly charts are bearish, highlighting room for further losses in the coming sessions. A close below 1.3815 will turn sentiment negative once again and extend February losses towards the 1.3745 Fibonacci retracement. Meanwhile, immediate resistance remains at congestion around 1.3900. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath 1.4000.