EUR: Finding some offers
Jul-27 06:43
- EUR is finding some early offers, with safer haven going into Bund, as Europe falls in contraction territory, and the latest Italian credit downgrade by S&P.
- EUR test session low against the CAD, NOK, and offered versus JPY, CHF.
- Moves are nonetheless very limited, and the EUR still holds gains vs AUD, NZD, USD and the Yen.
- Most will be keeping a close eye on the EURCHF, with the pair still trading at lowest levels since January 2015.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
USD: Finding a bid
Jun-27 06:30
- Although in the red against all G10s, besides the AUD, the Dollar is finding a bid.
- Gaining a few pips against the GBP, EUR, JPY, CAD, CNH, CNY, AUD, NZD, NOK and SEK, albeit within past ranges.
- Resistance in USDJPY is at Friday's high, 135.40.
BUNDS: Week ahead
Jun-27 06:20
- A slow overnight start for Bund, but finding some offers on the Cash open, with the contract hovering near Friday's low at 146.91, printed 147.04 so far.
- Focus this week will be on speakers once again, given the poor data of late, with the ECB Forum on Central Banking 2022 (27-29 June 2022, Sintra, Portugal).
- Today, sees US Durable Goods as the notable data release.
- SPEAKERS: ECB Lagarde and Villeroy.
- NOTABLE DATA (this week): US Durable Goods (Mon), US Wholesale Inventories (Tue), German CPI (Wed), French CPI, US PCE (Thu), EC, Italy CPI, and US ISM Manufacturing (Fri).
AUDUSD TECHS: Attention Is On Key Support
Jun-27 06:04
- RES 4: 0.7283 High Jun 3 and the bull trigger
- RES 3: 0.7202 High Jun 9
- RES 2: 0.7097 50-day EMA
- RES 1: 0.7016/7069 20-day EMA / High Jun 16
- PRICE: 0.6931 @ 07:01 BST Jun 27
- SUP 1: 0.6869/51 Low Jun 23/14
- SUP 2: 0.6829 Low May 12 and the bear trigger
- SUP 3: 0.6805 Low Jun 22 2020
- SUP 4: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing
AUDUSD continues to trade above 0.6851, the Jun 14 low. This support however remains exposed and trend signals are bearish. A resumption of weakness would also signal scope for a test of key support and the bear trigger at 0.6829, the May 12 low. Clearance of this support would confirm a resumption of the downtrend and open 0.6805, the Jun 22 2020 low. On the upside, 0.7069, Jun 16 high, remains a key short-term resistance.
