Chart USD/CAD Update: Choppy at year highs
Little change, as choppy trade within resistance at 1.4200 - 1.4248 gives way to consolidation around 1.4200
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4350 | * | congestion | S1 | 1.4140 | ** | 5 Nov (m) high | |
| R3 | 1.4290 | ** | 61.8% ret of 2025-2026 fall | S2 | 1.4100 | * | congestion | |
| R2 | 1.4248 | * | 24 Jun YTD high | S3 | 1.4000 | ** | break level | |
| R1 | 1.4200 | * | congestion | S4 | 1.3930 | intraday lows |
Asterisk denotes strength of level
16:55 BST - Little change, as choppy trade within resistance at 1.4200 - 1.4248 gives way to consolidation around 1.4200. Overbought intraday studies are unwinding and daily readings are under pressure, highlighting room for a pullback towards support at the 1.4140 monthly high of 5 November. But positive weekly charts should limit any deeper losses in renewed buying interest towards congestion around 1.4100. A close beneath here, if seen, would turn sentiment negative and signal a deeper retracement towards 1.4000. Meanwhile, a close above 1.4248 will turn sentiment positive and extend January gains towards the 1.4290 Fibonacci retracement.