Chart USD/CAD Update: Pressuring 1.3780/00 - studies under pressure
The retest of support at the 1.3780 monthly low of 21 April and congestion around 1.3800 has bounced from a fresh 2025 year low at 1.3760
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4200 | congestion | S1 | 1.3800 | congestion | |||
| R3 | 1.4100 | break level | S2 | 1.3780 | * | 21 Apr (m) low | ||
| R2 | 1.4000 | * | break level | S3 | 1.3745 | ** | 76.4% ret of Sep-Feb rally | |
| R1 | 1.3900 | * | congestion | S4 | 1.3700 | ** | congestion |
Asterisk denotes strength of level
16:10 BST - The retest of support at the 1.3780 monthly low of 21 April and congestion around 1.3800 has bounced from a fresh 2025 year low at 1.3760, with prices currently balanced around 1.3780. Intraday studies are bearish and daily stochastics are turning down, highlighting room for further losses in the coming sessions. A close beneath 1.3780/00 will add weight to sentiment and extend February losses initially towards the 1.3745 Fibonacci retracement. Beneath here is congestion around 1.3700. Meanwhile, resistance remains at congestion around 1.3900 and should cap any immediate tests higher.