Published: 2026-01-23T16:37:13.000Z
Chart USD/CAD Update: Lower in both USD- and CAD-driven trade
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Cautious trade has given way to anticipated losses in both USD- and CAD-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3950 | ** | 61.8% ret of Nov-Dec fall | S1 | 1.3700 | * | congestion | |
| R3 | 1.3900/20 | ** | break level; 9 Jan (w) high | S2 | 1.3640 | ** | 26 Dec (m) low | |
| R2 | 1.3850 | congestion | S3 | 1.3600 | ** | congestion | ||
| R1 | 1.3800 | ** | congestion | S4 | 1.3539 | ** | 16 June 2025 (y) low |
Asterisk denotes strength of level
16:20 GMT - Cautious trade has given way to anticipated losses in both USD- and CAD-driven trade, with prices currently trading around 1.330. Intraday studies and daily readings are bearish, highlighting room for a test of congestion support at 1.3700. A break will add weight to sentiment and open up the 1.3640 monthly low of 26 December. But mixed weekly charts should limit any tests in short-covering/consolidation. Meanwhile, resistance is lowered to congestion around 1.3800. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath further congestion around 1.3850.