USD/CAD Technical Analysis April 3, 2025
Current Price Levels and Technical Indicators:
As of 08:00 GMT on April 3, 2025, the USD/CAD pair is trading at approximately 1.4243. The 14-day Relative Strength Index (RSI) is at 46.47, indicating neutral momentum. The pair is trading near the 20-period Simple Moving Average (SMA), suggesting consolidation, and is also close to the 50-period SMA, reflecting a lack of strong directional bias.
Support and Resistance Levels:
Support Levels:
1.4215: Recent low observed during the current trading session.
1.4150: Psychological support level.
Resistance Levels:
1.4319: Recent high observed during the current trading session.
1.4404: Daily R2 level.
Fundamental Factors:
The recent announcement by U.S. President Donald Trump of sweeping tariffs on imports from various countries notably exempted Canada and Mexico. This exemption has provided some relief to the Canadian dollar, as it avoids the immediate economic impacts faced by other nations subject to the tariffs. However, the broader market reaction to the tariff announcements has led to increased volatility in currency markets, influencing the USD/CAD pair.
Conclusion:
The USD/CAD pair is currently exhibiting neutral momentum, with key support and resistance levels closely observed. The exemption of Canada from the recent U.S. tariffs has provided some stability to the Canadian dollar, but traders should remain vigilant for any further developments that could impact market sentiment.
EUR/USD Technical Analysis April 3, 2025