Published: 2025-09-09T16:24:14.000Z
Chart USD/CAD Update: Gains to remain limited
Senior Technical Strategist
1
Consolidation above congestion support at 1.3800 is giving way to a fresh test higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4200 | ** | congestion | S1 | 1.3800 | * | congestion | |
| R3 | 1.4170 | ** | 50% ret of Feb-Jun fall | S2 | 1.3725 | * | 29 Aug (w) low | |
| R2 | 1.4000/20 | ** | break level; 38.2% ret | S3 | 1.3700 | ** | congestion | |
| R1 | 1.3900 | ** | break level | S4 | 1.3600 | ** | congestion |
Asterisk denotes strength of level
16:55 BST - Consolidation above congestion support at 1.3800 is giving way to a fresh test higher, as intraday studies unwind oversold areas, with prices currently trading around 1.3840. Daily readings have also ticked higher, suggesting room for a break above the 1.3855 weekly high of 5 September. However, mixed weekly charts are expected to limit scope in renewed selling interest/consolidation beneath resistance at 1.3900. Meanwhile, a close below 1.3800, if seen, should give way to consolidation above strong support at the 1.3725 weekly low of 29 August.