USDCAD TECHS: Resistance Remains Intact For Now
- RES 4: 1.3661 High Nov 27
- RES 3: 1.3623 61.8% retracement of the Nov 1 - Dec 27 bear leg
- RES 2: 1.3608 High Dec 13
- RES 1: 1.3542/44 High Jan 17 / Feb 5 and 6 and bull trigger
- PRICE: 1.3459 @ 07:53 GMT Feb 9
- SUP 1: 1.3448/3359 20-day EMA / Low Jan 31 and key S/T support
- SUP 2: 1.3343 Low Jan 12
- SUP 3: 1.3288 Low Jan 5
- SUP 4: 1.3229 Low Feb 1
USDCAD remains below its recent highs. Attention is on key short-term resistance at 1.3542, the Jan 17 high. For bulls, a clear break of this hurdle would confirm a resumption of the uptrend that started Dec 27 and open 1.3623, 61.8% of the Nov 1 - Dec 27 bear leg. Key support to watch lies at 1.3359, the Jan 31 low. Clearance of this level would instead highlight a bearish development. First support lies at 1.3448, the 20-day EMA.
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GILTS: Opening calls
Gilt opening calls, range 100.40/100.48.
AUDUSD TECHS: Pullback Considered Corrective
- RES 4: 0.6921 High Feb 20
- RES 3: 0.6900 High Jun 16 and a key resistance
- RES 2: 0.6871 High Dec 28 and the bull trigger
- RES 1: 0.6771 High Jan 3
- PRICE: 0.6703 @ 07:55 GMT Jan 10
- SUP 1: 0.6641 Low Jan 05
- SUP 2: 0.6609 Trendline support drawn from the Oct 26 low
- SUP 3: 0.6571 50.0% Fibonacci retracement for Oct - Dec Upleg
- SUP 4: 0.6526 Low Dec 7 and key support
AUDUSD is unchanged and is trading closer to its recent lows. The recent move lower appears to be a correction and the medium-term trend direction remains up. Moving average studies highlight an uptrend and trendline support drawn from the late October low remains intact. The trendline lies at 0.6609 today and represents an important support. On the upside key resistance is unchanged at 0.6871, the Dec 28 high.
EQUITIES: EU Cash opening calls
Estox 50: -0.04%, Dax: -0.01%, CAC: -0.27%, FTSE +0.01%, SMI +0.14%.
