Published: 2025-07-22T15:29:17.000Z
Chart USD/CAD Update: Prices remain under pressure
Senior Technical Strategist
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Cautious trade around 1.3700 has given way to the anticipated break lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3900 | * | break level | S1 | 1.3600 | ** | congestion | |
| R3 | 1.3860 | * | 29 May (w) high | S2 | 1.3550 | * | congestion | |
| R2 | 1.3800 | * | congestion | S3 | 1.3500 | * | congestion | |
| R1 | 1.3700 | ** | congestion | S4 | 1.3420 | ** | 25 Sep (m) low |
Asterisk denotes strength of level
16:20 BST - Cautious trade around 1.3700 has given way to the anticipated break lower, with prices currently trading around 1.360. Intraday studies are negative and daily readings are tracking lower, highlighting room for a test of congestion support at 1.3600. Beneath here is further congestion around 1.3550. But rising weekly charts should limit any tests of here in renewed buying interest/consolidation. Meanwhile, a close back above 1.3700 would help to stabilise price action and prompt consolidation beneath congestion around 1.3800.