USDCAD TECHS: Trend Signals Still Bearish

• RES 4: 0.6428 50.0% retracement of the Sep 30 ‘24 - Apr 9 bear leg 
• RES 3: 0.6409 High Dec 9 and a key resistance
• RES 2: 0.6389 High Apr 3 and a reversal trigger
• RES 1: 0.6374 3.0% 10-dma envelope 
• PRICE: 0.6359 @ 07:59 BST Apr 15 
• SUP 1: 0.6232 20-day EMA  
• SUP 2: 0.6116/0.5915 Low 10 / Low Apr 9 and the bear trigger 
• SUP 3: 0.5830 2.000 proj of the Sep 30 - Nov 6 - 7 price swing
• SUP 4: 0.5729 2.236 proj of the Sep 30 - Nov 6 - 7 price swing

AUDUSD maintains a short-term bullish tone following a strong reversal last week. The pair has breached the 50-day EMA, at 0.6267. The break of this average strengthens the reversal and signals scope for a continuation higher, towards 0.6389, the Apr 3 high and the next important resistance. For bears, a resumption of weakness would refocus attention on 0.5915, the Apr 9 low and bear trigger. First support lies at 0.6232, the 20-day EMA.

Gilt calls, 91.60/91.86, small upside risk on the mid, given the bid in Sonias.

Moves in Estoxx Futures are tiny in early trade, similar to Yesterday.

VGM5 is back to circa flat, small downside risks on these calls.

• Calls: Estox 50: +0.07%, Dax: +0.67%, CAC: -0.43%, FTSE +0.26%, SMI +0.10%.