Published: 2025-08-28T15:32:33.000Z
Chart USD/CAD Update: Room for lower
Senior Technical Strategist
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The anticipated break below 1.3800 has reached 1.3750
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4170 | ** | 50% ret of Feb-Jun fall | S1 | 1.3700 | ** | congestion | |
| R3 | 1.4000/20 | ** | break level; 38.2% ret | S2 | 1.3600 | ** | congestion | |
| R2 | 1.3900 | ** | break level | S3 | 1.3550 | * | congestion | |
| R1 | 1.3800 | * | congestion | S4 | 1.3500 | ** | congestion |
Asterisk denotes strength of level
16:15 BST - The anticipated break below 1.3800 has reached 1.3750, where oversold intraday studies are prompting short-term reactions. Daily readings continue to point lower and overbought weekly stochastics are unwinding, highlighting room for continuation down to congestion support at 1.3700. A break will open up further congestion around 1.3600. But already oversold daily stochastics and the rising weekly Tension Indicator are expected to limit any initial tests in consolidation. Meanwhile, a close back above congestion resistance at 1.3800, if seen, will help to stabilise sentiment and prompt consolidation beneath 1.3900.