Published: 2025-05-09T15:25:34.000Z
Chart USD/CAD Update: Room for higher
Senior Technical Strategist
2
Little change, as prices extend cautious trade above congestion support at 1.3900
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4150 | ** | 50% ret of Mar-May fall | S1 | 1.3900 | * | congestion | |
| R3 | 1.4100 | break level | S2 | 1.3800 | congestion | |||
| R2 | 1.4050 | ** | 38.2% ret of Mar-May fall | S3 | 1.3745 | ** | 76.4% ret of Sep-Feb rally | |
| R1 | 1.4000 | * | break level | S4 | 1.3700 | ** | congestion |
Asterisk denotes strength of level
16:15 BST - Little change, as prices extend cautious trade above congestion support at 1.3900. Intraday studies are improving and daily readings continue to rise, highlighting room for further strength in the coming sessions towards resistance at the 1.4000 break level. Beyond here is the 1.4050 Fibonacci retracement, but mixed weekly charts should limit any initial tests in profit-taking/consolidation. Meanwhile, a close back below 1.3900 will turn sentiment neutral and give way to range extension above further congestion around 1.3800.