Chart USD/CAD Update: Consolidating gains - background studies rising
Little change, as mixed intraday studies and flat overbought daily stochastics keep near-term sentiment cautious
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4290 | ** | 61.8% ret of 2025-2026 fall | S1 | 1.4100 | minor congestion | ||
| R3 | 1.4250 | * | congestion | S2 | 1.4000 | ** | break level | |
| R2 | 1.4248 | ** | late-June YTD highs | S3 | 1.3975 | * | recent range lows | |
| R1 | 1.4200 | ** | congestion | S4 | 1.3950 | congestion |
Asterisk denotes strength of level
16:10 BST - Little change, as mixed intraday studies and flat overbought daily stochastics keep near-term sentiment cautious and extend consolidation beneath congestion resistance at 1.4200. A test above here will open up critical resistance at the 1.4248 current year high of late-June. But any immediate tests could give way to consolidation within congestion beneath here, before the positive daily Tension Indicator and rising weekly charts prompt a break. A close above 1.4248 will improve sentiment and confirm continuation of broad January gains, initially to the 1.4290 Fibonacci retracement
Meanwhile, support remains at congestion around 1.4100 and should continue to underpin any immediate setbacks. A close beneath here, however, will add weight to sentiment and open up 1.4000, where fresh consolidation is expected to appear.