Published: 2025-10-09T15:39:55.000Z
Chart USD/CAD Update: Extending June gains in USD- and CAD-driven trade
5
Cautious trade has given way to a sharp break higher in both USD- and CAD-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4300 | * | congestion | S1 | 1.3900 | ** | break level | |
| R3 | 1.4200 | ** | break level | S2 | 1.3800 | * | congestion | |
| R2 | 1.4170 | ** | 50% ret of Feb-Jun fall | S3 | 1.3725 | * | 29 Aug (w) low | |
| R1 | 1.4000/20 | ** | break level; 38.2% ret | S4 | 1.3700 | ** | congestion |
Asterisk denotes strength of level
16:30 BST - Cautious trade has given way to a sharp break higher in both USD- and CAD-driven trade, with prices currently pressuring strong resistance at 1.4000/20. Daily studies are mixed/positive and broader weekly charts are rising, highlighting room for further strength in the coming sessions. A close above here will improve sentiment and confirm continuation of June gains. Focus will then turn to the 1.4170 Fibonacci retracement, where already overbought daily stochastics could prompt renewed selling interest/consolidation. Meanwhile, support remains down to 1.3900 and should underpin any immediate setbacks.