Chart USD/CAD Update: Extending August gains in both USD- and CAD-driven trade
Consolidation above 1.4100 has given way to a fresh push higher in both USD- and CAD-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4290 | ** | 61.8% ret of 2025-2026 fall | S1 | 1.4100 | minor congestion | ||
| R3 | 1.4250 | * | congestion | S2 | 1.4000 | ** | break level | |
| R2 | 1.4248 | ** | late-June YTD highs | S3 | 1.3975 | * | recent range lows | |
| R1 | 1.4200 | ** | congestion | S4 | 1.3950 | congestion |
Asterisk denotes strength of level
16:35 BST - Consolidation above 1.4100 has given way to a fresh push higher in both USD- and CAD-driven trade, with prices currently trading around 1.4145. Daily readings continue to rise, highlighting room for continuation towards congestion resistance at 1.4200. But already overbought daily stochastics should limit any initial break in consolidation beneath critical resistance at the 1.4248 current year high of late-June, before improving weekly charts prompt a break.
Meanwhile, support is raised to 1.4100. A close beneath here, if seen, will help to stabilise sentiment and prompt consolidation above support at 1.4000.