Published: 2025-04-02T16:01:43.000Z
Chart USD/CAD Update: Consolidating - background studies under pressure
Senior Technical Strategist
3
Little change, as flattening oversold intraday studies prompt consolidation around support at the 1.4300 break level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4600 | * | break level | S1 | 1.4300 | * | break level | |
| R3 | 1.4542 | ** | 4 Mar (m) 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
16:45 BST - Little change, as flattening oversold intraday studies prompt consolidation around support at the 1.4300 break level. Mixed/positive daily readings are expected to limit any initial tests beneath here in consolidation above the 1.4237 weekly low of 6 March, before negative weekly charts extend March losses still further. Meanwhile, a close above resistance at 1.4400, if seen, would help to stabilise price action and give way to consolidation beneath congestion around 1.4500.