* RES 4: 0.6429 High Dec 12 '24 * RES 3: 0.6414 38.2% retracement of the Sep 30 '24 - Feb 3 bear leg...
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Treasuries outperformed global counterparts Friday, fully completing a reversal from a midweek selloff.
USDCAD broke lower Thursday, breaking out of a tight trading range this week and remains soft. A key support at 1.4261, the Jan 20 low, has been cleared and this signals scope for an extension of the current bear cycle - a correction. Scope is seen for a move towards 1.4107, a Fibonacci retracement. Initial firm resistance to watch is 1.4380, the Feb 10 high. A break would highlight an early bullish reversal signal.
Friday's US rates/bond options flow included: