Published: 2026-04-29T15:48:53.000Z
Chart USD/CAD Update: Room for a minor test higher
1
Cautious trade has given way to a test of congestion resistance at 1.3700
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3850 | * | congestion | S1 | 1.3630 | ** | 76.4% ret of March rally | |
| R3 | 1.3800 | * | congestion | S2 | 1.3600 | ** | congestion | |
| R2 | 1.3740 | * | break level | S3 | 1.3525 | * | 9 Mar (m) low | |
| R1 | 1.3700 | ** | congestion | S4 | 1.3480~ | ** | 30 Jan YTD low |
Asterisk denotes strength of level
16:35 BST - Cautious trade has given way to a test of congestion resistance at 1.3700, where unwinding overbought intraday studies are prompting a minor pullback to 1.3670. Daily readings continue to rise, suggesting room for a fresh test above here. But negative weekly charts should limit any break in renewed selling interest towards 1.3740. Following cautious/corrective trade, fresh losses are looked for. A later close below congestion support at 1.3600 will add weight to sentiment and extend late-March losses towards the 1.3525 monthly low of 9 March.