Published: 2025-01-28T16:32:13.000Z
Chart USD/CAD Update: Consolidating - gains to remain limited
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 | 1.4667 | ** | March 2020 (y) high | S1 | 1.4300 | * | congestion | |
| R3 | 1.4500 | ** | congestion | S2 | 1.4280 | * | 6 Jan (w) low | |
| R2 | 1.4450 | congestion | S3 | 1.4250 | break level | |||
| R1 | 1.4400 | break level | S4 | 1.4200 | break level |
Asterisk denotes strength of level
16:20 GMT - Little change, as mixed intraday studies keep near-term sentiment cautious and extend cautious trade just beneath resistance at 1.4400. A tick higher in daily stochastics suggests potential for a test above here. But the negative daily Tension Indicator and deteriorating weekly charts are expected to limit scope in renewed selling interest towards 1.4450. Meanwhile, support remains at congestion around 1.4300. A later close beneath here will add weight to sentiment and open up 1.4250. Further losses will confirm a near-term top in place around congestion at 1.4500.