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Published: 2025-07-08T15:22:07.000Z

Chart USD/CAD Update: Consolidating - studies continue to edge higher

byMike Macdonald

Senior Technical Strategist
4

Little change, as mixed intraday studies keep near-term sentiment cautious

 Levels ImpComment   Levels ImpComment 
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

16:15 BST - Little change, as mixed intraday studies keep near-term sentiment cautious and prompt consolidation beneath congestion resistance at 1.3700. Daily readings have ticked higher, and weekly charts are improving, suggesting room for a break above here. However, negative longer-term readings are expected to limit scope in renewed selling interest beneath further congestion around 1.3800. Meanwhile, support remains at congestion around 1.3600 and extends to further congestion around 1.3550. This range should underpin any immediate setbacks.

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Topics
USD/CAD-TA
Free-Tactical-TA
DM-Technical
Technical Analysis

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