Published: 2026-04-23T16:02:57.000Z
Chart USD/CAD Update: Gains to remain limited
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Cautious trade is giving way to a drift higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3850 | * | congestion | S1 | 1.3630 | ** | 76.4% ret of March rally | |
| R3 | 1.3800 | * | congestion | S2 | 1.3600 | ** | congestion | |
| R2 | 1.3740 | * | break level | S3 | 1.3525 | * | 9 Mar (m) low | |
| R1 | 1.3700 | ** | congestion | S4 | 1.3480~ | ** | 30 Jan YTD low |
Asterisk denotes strength of level
16:50 BST - Cautious trade is giving way to a drift higher, with prices currently trading around 1.3680. Oversold daily stochastics are rising, highlighting room for a test of congestion resistance at 1.3700. But the negative daily Tension Indicator and bearish weekly charts should limit any break in renewed selling interest beneath 1.3740. Following cautious/corrective trade, fresh losses are looked for. However, a close below support at the 1.3630 Fibonacci retracement is needed to add weight to sentiment and extend late-March losses towards congestion around 1.3600.