Published: 2025-07-03T15:38:43.000Z
Chart USD/CAD Update: Leaning lower
Senior Technical Strategist
1
Choppy trade has given way to a break lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3860 | * | 29 May (w) high | S1 | 1.3550 | * | congestion | |
| R3 | 1.3800 | congestion | S2 | 1.3500 | * | congestion | ||
| R2 | 1.3700 | ** | congestion | S3 | 1.3420 | ** | 25 Sep (m) low | |
| R1 | 1.3600 | ** | congestion | S4 | 1.3365 | * | Feb 2024 (m) low |
Asterisk denotes strength of level
16:30 BST - Choppy trade has given way to a break lower, with prices approaching congestion support at 1.3550. Intraday studies are under pressure and daily readings have turned down, highlighting room for a break. February losses will then target further congestion around 1.3500, but rising weekly charts are expected to limit any initial tests in consolidation. Meanwihle, resistance is lowered to congestion around 1.3600. A close above here, if seen, will stabilise price action and prompt consolidation beneath further congestion around 1.3700.