USDCAD TECHS: Trend Signals Remain Bearish

• RES 4: 1.4452/4543 High Mar 13 / 4 and a bull trigger
• RES 3: 1.4415 High Apr 1 
• RES 2: 1.4264 50-day EMA 
• RES 1: 1.4028/4151 Low Apr 3 / Low Feb 14 
• PRICE: 1.3837 @ 07:58 BST Apr 14
• SUP 1: 1.3822 Low Nov 6 ‘24
• SUP 2: 1.3744 76.4% retracement of Sep 25 ‘24 - Feb 3 bull run
• SUP 3: 1.3696 Low Oct 10 2024
• SUP 4: 1.3643 Low Oct 9 ‘24 

USDCAD is trading lower today, as it starts the week on a bearish note. Last week’s move down marked a resumption of the downtrend and has signalled scope for a continuation near-term. Potential is seen for a move towards 1.3744, a Fibonacci retracement. Moving average studies are in a bear -mode position, highlighting a dominant downtrend. First resistance to watch is 1.4028, the Apr 3 low.

Gilt calls, 90.96/91.15 range, some are seeing it towards the figure.

Estox 50: +2.71%, Dax: +2.72%, CAC: +2.28%, FTSE +1.74%, SMI +2.27%.