Published: 2025-08-06T16:01:11.000Z
Chart USD/CAD Update: Lower in USD- and CAD-driven trade
Senior Technical Strategist
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Cautious trade is giving way to the anticipated pullback in both USD- and CAD-driven trad
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4000 | ** | break level | S1 | 1.3700 | ** | congestion | |
| R3 | 1.3900 | * | break level | S2 | 1.3600 | ** | congestion | |
| R2 | 1.3860 | * | 29 May (w) high | S3 | 1.3550 | * | congestion | |
| R1 | 1.3800 | * | congestion | S4 | 1.3540 | ** | 16 Jun YTD low |
Asterisk denotes strength of level
16:45 BST - Cautious trade is giving way to the anticipated pullback in both USD- and CAD-driven trade. Intraday studies are falling and daily readings are also turning down, highlighting room for a test of congestion support at 1.3700. A further break cannot be ruled out. But rising weekly charts should limit any deeper losses in renewed buying interest above congestion around 1.3600. Meanwhile, resistance remains at congestion around 1.3800 and extends to the 1.3860 weekly high of 29 May. This broad range should cap any immediate tests higher.