IRAN: Coming Hours Will See 'Breakthrough' for Stranded Ships in SoH: Al Arabiya

• RES 4: $107.341 - 76.4% retracement of the Jan 29 - Mar 23 sell-off
• RES 3: $97.804 - High Mar 2
• RES 2: $90.015 - High Mar 10 
• RES 1: $77.761 - 50-day EMA       
• PRICE: $72.323 @ 08:08 BST Apr 7
• SUP 1: $61.007 - Low Mar 23
• SUP 2: $60.000 - Round number support 
• SUP 3: $56.496 - Low Dec 4 ‘25
• SUP 4: $53.345 - Low Nov 28 ‘25 

A bear cycle in Silver remains intact and recent short-term gains are considered corrective. The breach of $64.098, the Feb 6 low and a bear trigger, reinforces a bear theme. A clear break of this level would confirm a resumption of the medium-term corrective cycle, plus open the $60.00 handle and below. Key short-term resistance has been defined at $97.804, the Mar 2 high. Initial firm resistance is seen at $77.761, the 50-day EMA.

• RES 4: 1.4051 High Nov 28 
• RES 3: 1.4015 High Dec 2 ‘25
• RES 2: 1.3985 76.4% retracement of the Nov 5 ‘25 - Jan 30 bear leg
• RES 1: 1.3967 High Mar 31
• PRICE: 1.3921 @ 07:59 BST Apr 7
• SUP 1: 1.3815 20-day EMA 
• SUP 2: 1.3760 50-day EMA 
• SUP 3: 1.3670 Low Mar 23 and a key short-term support
• SUP 4: 1.3526 Low Mar 09

A bull cycle in USDCAD remains intact and the pair is trading closer to its recent highs. An important resistance at 1.3929, the Jan 16 high, has been pierced. A clear break of this hurdle would strengthen the bullish condition and open 1.3985, a Fibonacci retracement. Note that moving average studies are in a bull-mode position, highlighting a dominant bull cycle. Initial firm support lies at 1.3670, the Mar 23 low.

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