USDCAD tests major resistance
The Canadian dollar (USDCAD) looks towards the future as Donald Trump announces aggressive tariff measures.
- The pair has hit some resistance after a lengthy bullish upswing.
- This is a sign of relief for trapped buyers as the pair stepped back from reaching the 1.3900 level.
- A slide towards the immediate support of 1.3800 will show a lack of follow-through bids.
- 1.3750 is a critical floor and could cause a deep correction, unless the price extends towards the 1.3970 level.
NZDUSD breaks higher
The kiwi met stiff buying pressure as bears closed enough positions to cause a pullback.
- More sellers could join the game as the RSI slips to the neutral zone, causing a brief pullback.
- The psychological level of 0.6000 is the next hurdle higher.
- 0.5940 is a significant floor if the pair wants to stay afloat, with 0.5880 awaiting a test.
UK 100 hits a fresh peak
Global equities saw a continued push higher with tech stocks continuing the rally.
- The FTSE moved towards a fresh high after clearing and advancing from the 10800 level.
- A combination of short-covering and buying the dips could help the price remain above 10900
- A bearish reversal would attract those who are still indecisive, with 10750 acting as a fresh support.
- Otherwise, the index could move towards 10960.
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