Published: 2025-02-26T16:40:37.000Z
Chart USD/CAD Update: Extending gains in CAD-driven trade
Senior Technical Strategist
1
Minor consolidation has given way to further CAD-driven gains
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4600 | * | figure | S1 | 1.4300 | * | break level | |
| R3 | 1.4500 | ** | congestion | S2 | 1.4175 | ** | break level | |
| R2 | 1.4470 | * | congestion tops | S3 | 1.4100/10 | ** | congestion; 50% ret | |
| R1 | 1.4400 | break level | S4 | 1.4000 | ** | break level |
Asterisk denotes strength of level
16:30 GMT - Minor consolidation has given way to further CAD-driven gains, with the break above 1.4300 extending to 1.4350. Daily readings are positive, highlighting room for continuation of February gains towards resistance at the 1.4400 break level. Beyond here is the 1.4470/00 barrier, but mixed weekly charts are expected to prompt selling interest into any run towards here. Meanwhile, support is raised to 1.4300. A close beneath here, if seen, would turn sentiment neutral and give way to a pullback towards stronger support at 1.4175.