AUDUSD TECHS: Bearish Price Action
- RES 4: 0.6847 High Jul 20
- RES 3: 0.6821 High Jul 27
- RES 2: 0.6746 20-day EMA
- RES 1: 0.6714 Intraday high
- PRICE: 0.6629 @ 08:11 BST Jul 28
- SUP 1: 0.6619 Low Jul 7
- SUP 2: 0.6596 Low Jun 29 and key support
- SUP 3: 0.6562 76.4% retracement of the May 31 - Jun 16 rally
- SUP 4: 0.6485 Low Jun 1
AUDUSD has traded sharply lower today, extending the reversal from Thursday’s 0.6821 high. The move down reinforces a bearish theme and note that the pair is trading below both the 20- and 50-day EMAs. This signals scope for weakness towards the next key support at 0.6596, the Jun 29 low. On the upside, key short-term resistance has been defined at 0.6821, where a break is required to reinstate a bullish theme.
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USDCAD TECHS: Bounce Off Trend Lows Is Likely A Correction
- RES 4: 1.3392 50-day EMA
- RES 3: 1.3355 High Jun 15
- RES 2: 1.3286 20-day EMA
- RES 1: 1.3246 High Jun 21
- PRICE: 1.3224 @ 08:03 BST Jun 28
- SUP 1: 1.3084 1.618 proj of the Apr 28 - May 8 - May 26 price swing
- SUP 2: 1.2992 50.0% retracement of the Jun - Oct 2022 bull rally
- SUP 3: 1.2954 Low Sep 13 2022
- SUP 4: 1.2895 Low Aug 25
USDCAD initially traded lower Tuesday before bouncing off the day’s lowest levels. Nonetheless, the trend outlook remains bearish and short-term gains are considered corrective. Moving average studies are in a bear-mode position too, highlighting current sentiment. Scope is seen for a move towards 1.2992, a Fibonacci retracement. On the upside, firm resistance is seen at 1.3286, the 20-day EMA.
AUDUSD TECHS: Bearish Extension
- RES 4: 0.6993 76.4% retracement of the Feb - May downleg
- RES 3: 0.6921 High Feb 20
- RES 2: 0.6857/6900 High Jun 20 / 16 and key resistance
- RES 1: 0.6722/6806 20-day EMA / High Jun 27
- PRICE: 0.6637 @ 07:57 BST Jun 28
- SUP 1: 0.6619 Intraday low
- SUP 2: 0.6610 Low Jun 6
- SUP 3: 0.6562 76.4% retracement of the May 31 - Jun 16 rally
- SUP 4: 0.6485 Low Jun 1
AUDUSD has traded lower today, extending the reversal that started Jun 16. The recent move lower has resulted in a break of the 20- and 50-day EMA values, suggesting scope for a deeper retracement. 0.6627, 61.8% of the May 31 - Jun 16 rally, has been pierced. A clear break would open 0.6562, the 76.4% retracement level. Key resistance is 0.6900, the Jun 16 high. Initial resistance is at 0.6722, the 20-day EMA.
GILTS: Gilt opening calls
Gilts calls, range 95.46/95.52.
