Published: 2026-11-03T17:14:33.000Z
Chart USD/CAD Update: Cautious trade - room for a minor corrective bounce
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Little change, as cautious trade extends pressure on congestion resistance at 1.4000
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4135 | * | break level | S1 | 1.3950 | ** | 61.8% ret of Aug-Oct rally | |
| R3 | 1.4100 | minor congestion | S2 | 1.3900 | * | congestion | ||
| R2 | 1.4050 | break level | S3 | 1.3870 | ** | 76.4% ret of Aug-Oct rally | ||
| R1 | 1.4000 | ** | congestion | S4 | 1.3800 | * | congestion |
Asterisk denotes strength of level
16:45 GMT - Little change, as cautious trade extends pressure on congestion resistance at 1.4000. Intraday studies have turned higher and both daily stochastics and the daily Tension Indicator are showing signs of improvement, suggesting room for a later break above here. Focus will then turn to resistance at the 1.4050 break level. But negative weekly charts should limit any tests in renewed selling interest.
Following cautious/corrective trade, fresh losses are looked for. However, a close below the 1.3950 Fibonacci retracement is needed to add weight to sentiment and extend October losses towards congestion around 1.3900.