Published: 2025-07-16T15:49:29.000Z
Chart USD/CAD Update: Choppy in range
Senior Technical Strategist
1
Anticipated tests higher have been pushed back from 1.3750
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4000 | ** | break level | S1 | 1.3700 | ** | congestion | |
| R3 | 1.3900 | * | break level | S2 | 1.3600 | ** | congestion | |
| R2 | 1.3860 | * | 29 May (w) high | S3 | 1.3550 | * | congestion | |
| R1 | 1.3800 | * | congestion | S4 | 1.3500 | * | congestion |
Asterisk denotes strength of level
16:35 BST - Anticipated tests higher have been pushed back from 1.3750, as overbought intraday studies unwind, with sharp losses currently trading just below congestion support at 1.3700. Overbought daily stochastics are also unwinding, suggesting potential for a move towards congestion support at 1.3600. But the rising daily Tension Indicator and positive weekly charts are expected to prompt renewed buying interest towards here. Meanwhile, resistance remains up to congestion around 1.3800. A close above here is needed to turn sentiment positive and extend June gains towards the 1.3860 weekly high of 29 May.