DAX(GER40) hits another low
The DAX(GER40) topped another downward turn as the index ran into negative territory following potential tariffs from the US. With a bearish divergence underway, prices saw a slight dip away from 22500. 22210 is critical support to keep the index propelled as its breach would force buyers to exit the market and could trigger a liquidation. The psychological level of 23000 will be the next target for bulls should price action take another turn higher.
USDCHF breaking higher
The US dollar fluctuated after the White House issued more tariff threats. Coming off the newly formed double bottom at 0.8780, a break above the previous top at 0.8850 suggests that bulls could have turned the tide. As the RSI bounces away from the overbought area, 0.8900 is the next level to see if more buying interests will emerge. On the downside, 0.8800 is the first support, with 0.8760 waiting for another test lower.
USDCAD moving towards previous peak
The Canadian dollar softened as price action found a 50 pip jump in recent sessions. The pair turned north at 1.4350 as the RSI’s overbought condition could suggest that prices now need some breathing room. Should the rally run out of steam, sellers will be looking to move in as 1.4290 becomes the first support. A break past this opens up 1.4200 for fresh monthly lows.
