AUDUSD TECHS: Pullback Nears Support
- RES 4: 0.7245 2.00 proj of the Nov 21 - Dec 13 - Dec 20 price swing
- RES 3: 0.7202 High Jun 9
- RES 2: 0.7172 1.764 proj of the Nov 21 - Dec 13 - Dec 20 price swing
- RES 1: 0.7082/0.7158 High Feb 3 / 2 and the bull trigger
- PRICE: 0.6855 @ 16:24 GMT Feb 17
- SUP 1: 0.6812 Low Feb 16
- SUP 2: 0.6781 38.2% retracement of the Oct 13 - Feb 2 uptrend
- SUP 3: 0.6755 Trendline support drawn from the Oct 13 low
- SUP 4: 0.6688 Low Jan 3
AUDUSD printed a lower low early Friday, putting prices through first support at 0.6856 to expose 0.6781. The broader uptrend remains intact for now, and the recent move lower highlights a correction that is allowing a recent overbought trend condition to unwind. Key resistance and the bull trigger have been defined at 0.7158, the Feb 2 high. A break would resume the uptrend.
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US TSYS: Late SOFR/Treasury Option Roundup
Chasing Direction, early session wing trade turned bearish briefly as underlying futures scaled off first half highs.
- SOFR Options:
- Block, 2,500 SFRG3 95.12/95.18/95.25 call flys, 2.0 ref 95.17
- Block, 10,000 SFRU3 96.25/96.75 call spds, 2.5 ref 95.335
- Block, 7,500 SFRU3 94.75/95.00 put spds, 0.5 over OQU3 95.62 puts
- 4,000 SFRK3 94.62/94.87/95.38/95.62 call condors ref 95.135
- Block, 2,500 OQH3 95.00/95.62 put spds vs. SFRK3 94.75/95.00 put spds, 1.0 net, May over
- 2,600 SFRG3 95.06/95.18 put spds, 3.75 ref 95.16
- 5,000 2EG3 97.12/97.37 call spds, ref 96.92 -.915
- 9,700 SFRZ3 93.00/94.00 put spds ref 95.665-.675
- Treasury Options:
- 5,000 USM3 129/130 put spds, 21 ref 113-11
- 5,000 TYH3/TYG3 118 1x2 call calendar spd, 11 ref 115-23.5
- -1,250 TYG 116 calls, 22, total volume over 23k
- +5,000 USJ 129/130 put spds, 21 ref 132-29
- -5,000 FVG3 110.5 calls, 12.5 ref 110-04, total volume over 14.5k
- Block, 7,500 TYG3 114.75/115 call spds, 11 ref 115-23.5, more on screen
- Block, 15,000 FVG3 109.5/110 call spds, 21 ref 110-06
- 5,000 TYG3 114 puts, 7 ref 115-10, total volume over 28k
- Update, over +30,000 TYG 116.5 calls, 7-11
- over 40,000 TYG3 112/113 put spds, 2 ref 115-06
- 5,000 weekly midcurve 10Y 114/114.5 put spds
- 4,000 wk3 10Y 112.75/113.75 put spds, 0.0
- 3,600 FVH3 108.25 calls, 142 ref 109-20.75
AUDUSD TECHS: Northbound
- RES 4: 0.7200 Round number resistance
- RES 3: 0.7137 High Aug 11
- RES 2: 0.7063 High Jan 18
- RES 1: 0.7059 2.236 proj of the Oct 13 - 27 - Nov 3 price swing
- PRICE: 0.6984 @ 16:54 GMT Jan 18
- SUP 1: 0.6930/6860 Low Jan 17 / 9
- SUP 2: 0.6854 20-day EMA
- SUP 3: 0.6762 50-day EMA
- SUP 4: 0.6688 Low Jan 3 and key support
AUDUSD maintains a bullish theme and traded higher Wednesday before a moderation into the close. The pair has recently cleared 0.6893, the Dec 13 high and this confirmed a resumption of the uptrend that started Oct 13. The move higher maintains the bullish price sequence of higher highs and higher lows and note that moving average studies are in a bull mode position. The focus is on 0.7059 next, a Fibonacci projection. Key support lies at 0.6688, Jan 3 low.
US STOCKS: Late Equity Roundup: Consumer Staples, Utilities, Financials Lagging
Major indexes weaker, near session lows w/ Consumer Staples, Utilities and Financials sectors underperforming. Stocks reversed early gains after PNC and Charles Schwab each missed earning est this morning, weighing on financials. SPX eminis currently trades -44.75 (-1.12%) at 3964.75; DJIA -444.37 (-1.31%) at 33466.41; Nasdaq -84.9 (-0.8%) at 11010.67.
- SPX leading/lagging sectors: Consumer Staples (-2.37%) lead by weaker food, beverage and tobacco shares (KHC -5.94%, CAG -4.07%, MKC -3.91%); Utilities (-2.21%) and Financials (-1.61%) follow, PNC Financial -5.59% in late trade.
- Leaders: Communication Services (-0.61%) lead by Match Grp (MTCH) +0.66% and Google (+0.10%). Next up: Information Technology (-0.84%) and Consumer Discretionary (-0.90%), internet and direct marketing names supporting latter.
- Dow Industrials Leaders/Laggers: After heavy sell-off Tuesday - Goldman Sachs bounces +1.74 to 351.66, Apple (APPL) -0.14 at 135.80, Travelers (TRV) -0.28 at 184.72. Laggers: McDonalds (MCD) -7.49 at 266.57, Honeywell (HON) -6.86 at 205.38, United Health (UNH) -5.78 at 479.30.
