USD/CAD is stuck in choppy trade below congestion resistance at 1.4200, with mixed to negative intraday studies keeping near-term sentiment cautious. Daily readings point to a possible pullback toward 1.4140, though positive weekly charts should limit deeper losses.
USD/CAD is drifting in choppy trade beneath congestion resistance at 1.4200, with little directional change on the session. Mixed to negative intraday studies are keeping near-term sentiment cautious.
Daily readings are under pressure, which highlights room for a pullback toward support at 1.4140, the 5 November monthly high. But positive weekly charts are expected to limit deeper losses, with renewed buying interest anticipated around the 1.4100 congestion zone.
A close below 1.4100 would turn sentiment negative and signal a deeper move toward the 1.4000 break level. That leaves the pair leaning on layered support for now.
On the other side, resistance stacks up at the 1.4200 congestion band, the 24 June year-to-date high at 1.4248, and the 1.4290 Fibonacci retracement at 61.8%. A close above 1.4248 would turn sentiment positive and extend gains toward 1.4290.
Source: Continuum Economics (snippet-based)
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