Published: 2025-07-29T15:55:08.000Z
Chart USD/CAD Update: Focus on 1.3800
Senior Technical Strategist
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Consolidation around 1.3740 is giving way to further gains
| 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
16:30 BST - Consolidation around 1.3740 is giving way to further gains, as intraday studies tick higher, with prices approaching congestion resistance at 1.3800. Daily stochastics and the daily Tension Indicator continue to rise, and broader weekly charts are also improving, but a close above here is needed to turn sentiment positive and confirm continuation of June gains, initially to the 1.3860 weekly high of 29 May. Meanwhile, a close back below congestion support at 1.3700 will turn sentiment neutral and prompt consolidation above further congestion around 1.3600.