Published: 2025-03-28T08:21:38.000Z
Chart USD/CAD Update: Extending bounce from 1.4235 low
Technical Analyst
1
Extending bounce from the 1.4235 low as intraday and daily studies unwind oversold readings
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4542 | ** | 4 Mar high | S1 | 1.4235 | * | 26 Mar low | |
| R3 | 1.4500 | * | congestion | S2 | 1.4150 | ** | 14 Feb YTD low | |
| R2 | 1.4400 | * | 20 Mar high | S3 | 1.4105 | * | 50% Sep/Jan rally | |
| R1 | 1.4350 | * | congestion | S4 | 1.4000 | * | congestion |
Asterisk denotes strength of level
08:20 GMT - Extending bounce from the 1.4235 low as intraday and daily studies unwind oversold readings. Bounce see prices retracing losses from the 1.4542 high with resistance starting at 1.4350 congestion then 1.4400, 20 March high. Beyond these will expose the critical resistance at the 1.4500/1.4542 area to retest. However, the latter expected to cap and give way to fresh selling pressure later. Break of the 1.4235 low will return focus to the 1.4150, 14 February YTD low. Below the latter will extend losses from the 1.4793, 3 February multi-year high.