Published: 2025-11-06T16:32:13.000Z
Chart USD/CAD Update: Focus remains on the 1.4170 Fibonacci retracement
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The anticipated minor pullback has bounced sharply from 1.4100 in CAD-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4315 | ** | 61.8% ret of Feb-Jun fall | S1 | 1.4080 | ** | 14 Oct (w) high | |
| R3 | 1.4300 | * | break level | S2 | 1.4000 | * | break level | |
| R2 | 1.4200 | * | congestion | S3 | 1.3950 | * | pivot | |
| R1 | 1.4170 | ** | 50% ret of Feb-Jun fall | S4 | 1.3900 | ** | break level, 50% ret |
Asterisk denotes strength of level
16:25 GMT - The anticipated minor pullback has bounced sharply from 1.4100 in CAD-driven trade, with prices once again trading around 1.4140. Oversold intraday studies are unwinding and daily readings are improving, suggesting room for continuation of June gains towards strong resistance at the 1.4170 Fibonacci retracement and congestion around 1.4200. However, already overbought weekly stochastics are expected to limit any initial tests in consolidation. Meanwhile, support remains down to the 1.4080 weekly high of 14 October. A close beneath here, if seen, will turn sentiment neutral and prompt consolidation above 1.4000.