US NATGAS: (Bbg) -- Money managers have increased long natural gas positions

• RES 4: 0.6700 76.4% retracement of the Sep 30 ‘24 - Apr 9 bear leg
• RES 3: 0.6688 High Nov 7 ‘24
• RES 2: 0.6677 0.764 proj of the Jun 23 - Jul 11 - 17 price swing  
• RES 1: 0.6530/6625 High Jul 29 / 24 and the bull trigger
• PRICE: 0.6499 @ 16:13 BST Aug 6
• SUP 1: 0.6419 Low Aug 1
• SUP 2: 0.6373 Low Jun 23 and a bear trigger 
• SUP 3: 0.6354 38.2% retracement of the Apr 9 - Jul 24 upleg  
• SUP 4: 0.6323 Low Apr 16

AUDUSD rallied well off the week’s lowest levels last week on broad USD weakness. Last week, the pair traded through both the 20- and 50-day EMAs. This undermined the recent bullish theme and signals the likely start of a corrective cycle. Note that support 0.6455 the Jul 17 low, has also been cleared. The breach strengthens a bearish threat and signals scope for an extension towards 0.6373, the Jun 23 low. Key resistance has been defined at 0.6625 the Jul 24 high. It also represents the bull trigger.

• +3,500 UXYU5 114-12, buy through 114-11.5 post time offer at 1512:00ET, DV01 $305,000.
• The 10Y ultra contract trades 114-11.5 last (-5.5)

 The Bank of Canada has released its 2026 interest rate decision schedule (link here, all rate announcements will be on Wednesdays at 0945ET):

• January 28 (with Monetary Policy Report)
• March 18
• April 29 (with Monetary Policy Report)
• June 10
• July 15 (with Monetary Policy Report)
• September 2
• October 28 (with Monetary Policy Report)
• December 9

Additionally the quarterly Business Outlook Survey and Canadian Survey of Consumer Expectations will be published on the following dates (all are Mondays at 1030ET):

• January 19
• April 20
• July 6
• October 19