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• EUR/CAD rebounded strongly on Thursday as investors cheered a sudden reversal by the U.S. on tariffs.
• U.S. President Donald Trump announced a 90-day pause on tariffs for most countries, sparking a relief rally in global markets after days of turmoil.
• The suspension of tariffs on numerous countries occurred less than 24 hours after they were implemented. However, the White House kept a 10% blanket duty on nearly all U.S. imports.
• Meanwhile, Trump escalated pressure on China by increasing the tariff on Chinese imports to 125% from 104%, following China's announcement of an 84% levy on U.S. goods starting April 10.
• European Commission President Ursula von der Leyen announced that the European Union will pause its first countermeasures against Trump's tariffs for 90 days.
• Immediate resistance is located at 1.5659(38.2%fib), any close above will push the pair towards 1.5762(Higher BB).
•Support is seen at 1.5427 (50%fib) and break below could take the pair towards 1.5324(Lower BB).
Recommendation: Good to buy around 1.5600 , with stop loss of 1.5520 and target price of 1.5680
