Published: 2025-09-02T15:29:44.000Z
Chart USD/CAD Update: Immediate gains to remain limited
Senior Technical Strategist
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Consolidation around 1.3750 has given way to a sharp run higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4170 | ** | 50% ret of Feb-Jun fall | S1 | 1.3700 | ** | congestion | |
| R3 | 1.4000/20 | ** | break level; 38.2% ret | S2 | 1.3600 | ** | congestion | |
| R2 | 1.3900 | ** | break level | S3 | 1.3550 | * | congestion | |
| R1 | 1.3800 | * | congestion | S4 | 1.3500 | ** | congestion |
Asterisk denotes strength of level
16:20 BST - Consolidation around 1.3750 has given way to a sharp run higher, with prices reaching 1.3815 before settling lower in choppy trade around congestion resistance at 1.3800. Oversold daily stochastics are turning higher, suggesting room for a fresh test above here. But the negative daily Tension Indicator and mixed weekly charts are expected to limit scope in renewed consolidation beneath 1.3900. Meanwhile, support remains at 1.3700. A close beneath here would add weight to sentiment and open up further congestion around 1.3600. Already oversold daily stochastics could limit any initial tests in consolidation.