Published: 2025-08-11T16:38:28.000Z
Chart USD/CAD Update: Edging higher
Senior Technical Strategist
1
Cautious trade around 1.3750 is giving way to a drift higher in both USD- and CAD-driven trade
| 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 | 1.3540 | ** | 16 Jun YTD low |
Asterisk denotes strength of level
16:50 BST - Cautious trade around 1.3750 is giving way to a drift higher in both USD- and CAD-driven trade, with prices currently balanced around 1.3785. Rising intraday studies and a tick higher in daily stochastics highlight potential for a test. But a tick lower in the daily Tension Indicator could limit any initial tests in consolidation, before rising weekly charts prompt a break and open up strong resistance at the 1.3860 weekly high of 29 May. Meanwhile, support remains at congestion around 1.3700 and should underpin any immediate setbacks.