Published: 2025-04-24T15:04:39.000Z
Chart USD/CAD Update: Consolidating - limited tests higher
Senior Technical Strategist
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Little change, as mixed intraday studies keep near-term sentiment cautious
| 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
15:55 BST - Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation beneath congestion resistance at 1.3900. Daily readings are improving, suggesting room for a test above here. But mixed/negative weekly charts and negative longer-term readings are expected to limit scope in renewed selling interest/consolidation beneath 1.4000. Following cautious trade, fresh losses are looked for. A close below the 1.3815 monthly low of 6 November will add weight to sentiment and extend February losses towards the 1.3745 Fibonacci retracement.