Published: 2025-02-07T07:08:06.000Z
Chart USD/CAD Update: Shallow bounce from the 1.4300/1.4270 support
Technical Analyst
2
Little change, as prices edged up from support at the 1.4270 Fibonacci level to consolidate at the 1.4300 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4668 | ** | 2020 year high | S1 | 1.4300 | * | congestion | |
| R3 | 1.4595 | * | Jan high | S2 | 1.4270 | * | 38.2% Sep/Feb rally | |
| R2 | 1.4500 | * | congestion | S3 | 1.4175 | * | Nov high | |
| R1 | 1.4400 | * | congestion | S4 | 1.4105 | * | 50% Sep/Feb rally |
Asterisk denotes strength of level
07:00 GMT - Little change, as prices edged up from support at the 1.4270 Fibonacci level to consolidate at the 1.4300 level. However, the negative daily and weekly studies suggest consolidation here giving way to further losses later. Lower will further retrace the September/February rally to support at the 1.4200/1.4175 congestion and November high. Break here will open up room for deeper extension to the 1.4105, 50% Fibonacci level. Meanwhile, resistance remains at 1.4400 and extend to the 1.4470/1.4500 congestion area.