Published: 2026-07-17T07:11:02.000Z
Chart USD/CAD Update: Consolidating above 1.4000, but still heavy
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Steadied above the 1.4000 level as prices consolidate recent sharp losses from the 1.4248 June current year high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4200 | * | congestion | S1 | 1.4000 | * | congestion | |
| R3 | 1.4150 | ** | 2 Jul low | S2 | 1.3980 | * | 38.2% May/Jun rally | |
| R2 | 1.4100/15 | * | congestion, 10 Jul low | S3 | 1.3965 | ** | Mar high | |
| R1 | 1.4050 | * | congestion | S4 | 1.3930 | * | Jan high |
Asterisk denotes strength of level
07:10 GMT - Steadied above the 1.4000 level as prices consolidate recent sharp losses from the 1.4248 June current year high. Negative daily and weekly studies keep pressure on the downside and break of the 1.4000 level will see deeper pullback to retrace the May/June rally to strong support at 1.3980 Fibonacci level then the 1.3965/30, March and January highs. Meanwhile, resistance is lowered to 1.4050 congestion. Above here will see room for stronger corrective bounce to resistance at the 1.4100/15 area which should cap any corrective bounce.