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Expiries for Apr13 NY cut 1000ET (Source DTCC)

GERMAN DATA

ZEW Expectations Sentiment Fell in April

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  • RES 4: 1.2763 High Feb 12
  • RES 3: 1.2749 High Feb 26 and key resistance
  • RES 2: 1.2700 High Mar 8
  • RES 1: 1.2624/47 50-day EMA / High Mar 30 and the bull trigger
  • PRICE: 1.2574 @ 18:14 GMT Apr 8
  • SUP 1: 1.2502 Low Apr 5 and key near-term support
  • SUP 2: 1.2462 Low Mar 19
  • SUP 3: 1.2365 Low Mar 18 and the bear trigger
  • SUP 4: 1.2336 1.00 proj of the Jan 28 - Feb 25 - Feb 26 price swing

USDCAD is trading closer to recent highs following the recovery from Monday's 1.2502 low. Short-term trend conditions remain bullish and attention is on resistance at 1.2647, Mar 30 high and the bull trigger. A break would confirm a resumption of the recovery that started Mar 18 and would open 1.2749, Feb 26 high. Key near-term support lies at 1.2502, Apr 5 low. A breach would instead signal a resumption of bearish activity.