USD/CAD has slipped from choppy trade near 1.4200 to the 1.4140 monthly high of 5 November, with Continuum Economics citing bearish daily readings and overbought weekly stochastics. A push above 1.4200 is possible, but the strategist looks for a test below 1.4140 in the coming sessions.
The pair pulled back from congestion around 1.4200 to the 1.4140 monthly high of 5 November, where rising intraday studies are prompting a bounce back toward 1.4200. A test above that congestion level is possible.
Daily studies cap the rebound
Bearish daily readings and flattening, overbought weekly stochastics should limit renewed selling interest and consolidation beneath the 1.4248 current-year high of 24 June, the level the source flags as critical resistance. Above it sits the 61.8% retracement of the 2025-2026 fall at 1.4290, with congestion marked at 1.4350.
Because those daily signals are pointing lower, a test below 1.4140 is looked for in the coming sessions.
Where the downside stalls
A positive weekly Tension Indicator and rising longer-term charts should limit renewed buying interest above 1.4000, the level marked as a break level. Intraday lows near 1.3930 and congestion at 1.3900 mark the levels beneath it.
A close below 1.4000, however, would turn sentiment negative and confirm a deeper retracement from 1.4248.
Source: Continuum Economics (snippet-based)
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