USD/CAD Technical Analysis April 2, 2025
Current Price Levels and Technical Indicators:
As of 7:00 GMT on April 2, 2025, the USD/CAD pair is trading around 1.4309.
Relative Strength Index (RSI): The RSI is at 46.47, indicating neutral momentum.
Moving Averages:
20-period SMA: The price is trading near the 20-period Simple Moving Average, suggesting consolidation.
50-period SMA: The pair is also close to the 50-period SMA, reflecting a lack of strong directional bias.
Support and Resistance Levels:
Support:
1.4290: Immediate support level where buying interest may emerge.
1.4280: A subsequent support level to monitor for potential price reactions.
Resistance:
1.4330: Immediate resistance level that, if breached, could signal further bullish momentum.
1.4340: An additional resistance level to watch for potential price movements.
Fundamental Factors:
U.S. Tariff Announcement: President Donald Trump is scheduled to announce new tariffs today, referred to as “Liberation Day.” The specifics of these tariffs are still unclear, but they may include a 20% tariff on most imports. This has heightened market uncertainty and could impact the USD/CAD pair.
Canadian Economic Outlook: The Canadian economy is closely monitoring the potential impact of U.S. tariffs. Any new tariffs could affect trade dynamics between the U.S. and Canada, influencing the Canadian dollar’s performance.
Conclusion:
The USD/CAD pair is currently consolidating around the 1.4309 level, with key support at 1.4290 and resistance at 1.4330. Traders should closely monitor the upcoming U.S. tariff announcement and its potential implications for trade relations, as these events could significantly influence the pair’s direction.
EUR/USD Technical Analysis April 2, 2025