USDCAD TECHS: Outlook Remains Bullish
Dec-22 08:05
- RES 4: 1.3855 High Oct 21 - Nov 16 bear leg
- RES 3: 1.3808 High Nov 3 and a key resistance
- RES 2: 1.3751 High Nov 4
- RES 1: 1.3705 High Dec 16
- PRICE: 1.3578@ 08:01 GMT Dec 22
- SUP 1: 1.3519 Low Dec 14
- SUP 2: 1.3414/3385 Former trendline resistance / Low Dec 5
- SUP 3: 1.3317/3226 Low Nov 24/25 / Low Nov 15 and bear trigger
- SUP 4: 1.3205 61.8% retracement of the Aug 11 - Oct 13 rally
USDCAD short-term conditions remain bullish. The recent break of trendline resistance, drawn from the Oct 13 high, strengthened the bullish argument and this has opened 1.3751, the Nov 4 high. On the downside, a break below the former trendline resistance - at 1.3414 - would be bearish and expose 1.3385, the Dec 5 low. Initial key support to watch lies at 1.3519, the Dec 14 low.
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Historical bullets
GILTS: Opening calls
Nov-22 07:56
Gilt opening calls, 106.12
BUNDS: Quick Yield note
Nov-22 07:50
- Quick Bund Yield note, reference 140.29:
- 1.95% = 140.87 this morning.
AUD: Early focus is on the AUDNZD
Nov-22 07:40
- Early focus in FX is in the AUDNZD, was one of the standout late last week, with most flow from desk noted ahead of the expected 75bps hike by the RNBZ tomorrow (wed).
- AUDNZD is down 0.22% and testing the 1.0800 handle, did print a 1.0795 low (according to BGNE).
- Small support is seen at 1.0782, but better is seen at the 1.0743 area, the 61.8% retrace of the Sep21/22 gains.
