CZECHIA: CNB Expected To Keep Repo Rate On Hold
* The Czech National Bank (CNB) is expected to keep the two-week repo rate unchanged at 3.50%, wit...
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USDCAD TECHS: Trading Above The 50-Day EMA
- RES 4: 1.4111 High Apr 10
- RES 3: 1.4019 38.2% retracement of the Feb 3 - Jun 16 bear leg
- RES 2: 1.3968 High May 20
- RES 1: 1.3925 High Aug 22
- PRICE: 1.3829 @ 08:07 BST Aug 25
- SUP 1: 1.3797 20-day EMA
- SUP 2: 1.3771/22 50-day EMA / Low Aug 22
- SUP 3: 1.3576 Low Jul 23
- SUP 4: 1.3557/40 Low Jul 3 / Low Jun 16 and the bear trigger
Gains last week in USDCAD and the breach of resistance at 1.3879, the Aug 1 high, continues to highlight a bullish phase. Moving average studies have recently crossed and are in a bull-mode position, strengthening the current uptrend. An extension higher would signal scope for a climb towards 1.4019, a Fibonacci retracement. On the downside, support to watch lies at 1.3771, the 50-day EMA.
AUDUSD TECHS: Finds Support
- RES 4: 0.6688 High Nov 7 ‘24
- RES 3: 0.6677 0.764 proj of the Jun 23 - Jul 11 - 17 price swing
- RES 2: 0.6569/6625 High Aug 14 / 24 and the bull trigger
- RES 1: 0.6524 High Aug 18
- PRICE: 0.6498 @ 08:03 BST Aug 25
- SUP 1: 0.6415 Low Aug 21 / 22
- SUP 2: 0.6373 Low Jun 23
- SUP 3: 0.6354 38.2% retracement of the Apr 9 - Jul 24 upleg
- SUP 4: 0.6323 Low Apr 16
AUDUSD rallied Friday and for now, the pair is holding on to its latest gains. The rally signals the end of the recent corrective phase. A continuation higher would signal scope for a climb towards 0.6569, the Aug 14 high. Key resistance and the bull trigger is at 0.6625, the Aug 24 high. On the downside, support to watch lies at 0.6415, the Aug 21 / 22 low. A clear break would resume the bear leg.
EQUITY TECHS: E-MINI S&P: (U5) Bull Phase Intact
- RES 4: 6600.00 Round number resistance
- RES 3: 6572.45 2.0% 10-dma envelope
- RES 2: 6523.63 1.764 proj of the May 23 - Jun 11 - 23 price swing
- RES 1: 6508.75 High Aug 15 and all-time High
- PRICE: 6479.50 @ 07:25 BST Aug 25
- SUP 1: 6362.75 Low Aug 20
- SUP 2: 6313.25 Low Aug 6
- SUP 3: 6298.61 50-day EMA
- SUP 4: 6239.50 Low Aug 1
The dominant uptrend in S&P E-Minis remains intact and Friday’s rally reinforces current conditions. Moving average studies are in a bull-mode position, highlighting a clear uptrend and positive market sentiment. Attention is on 6508.75, the Aug 15 high and the bull trigger. Clearance of this level would confirm a resumption of the uptrend and open 6523.63, a Fibonacci projection. Support to watch lies at 6298.61, the 50-day EMA.
