Published: 2026-08-12T15:46:14.000Z
Chart USD/CAD Update: Drifting lower
1
Little change, as cautious trade continues to drift lower towards strong support at 1.3900
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4100 | * | congestion | S1 | 1.3900 | ** | congestion, 50% ret | |
| R3 | 1.4050 | break level | S2 | 1.3820 | ** | 61.8% ret of May-Jun rally | ||
| R2 | 1.4000 | ** | break level | S3 | 1.3800 | ** | congestion | |
| R1 | 1.3950 | congestion | S4 | 1.3715 | ** | 76.4% ret of May-Jun rally |
Asterisk denotes strength of level
16:30 BST - Little change, as cautious trade continues to drift lower towards strong support at 1.3900. Oversold daily stochastics are flattening, suggesting any initial tests could give way to fresh consolidation. However, the bearish daily Tension Indicator and falling weekly charts point to room for deeper losses in the coming sessions. A close beneath here will add weight to already bearish price action and extend late-June losses towards 1.3800/20. Meanwhile, resistance is lowered to congestion around 1.3950. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath 1.4000.