Published: 2026-05-12T15:37:19.000Z
Chart USD/CAD Update: Extending gains
1
Anticipated gains have broken above 1.3700
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3840 | intraday break level | S1 | 1.3700 | ** | congestion | ||
| R3 | 1.3800/10 | ** | congestion; 61.8% ret | S2 | 1.3640 | break level | ||
| R2 | 1.3760 | ** | 50% ret of Mar-May fall | S3 | 1.3600 | ** | congestion | |
| R1 | 1.3740 | * | break level | S4 | 1.3550 | * | 1 May (w) low |
Asterisk denotes strength of level
16:15 BST - Anticipated gains have broken above 1.3700, with prices currently trading around 1.3715. Daily studies are rising, highlighting room for a test of resistance at the 1.3740 break level and the 1.3760 Fibonacci retracement. However, flattening overbought daily stochastics and mixed weekly charts could limit any initial tests in consolidation. A break, however, will improve sentiment and extend gains towards strong resistance within 1.3800/10. Meanwhile, support is raised to congestion around 1.3700. A close back beneath here would help to stabilise price action and prompt consolidation above 1.3640.