US TSYS: Sep FOMC Minutes Hike Firm & Unanimous
* Treasuries look to finish mixed Wednesday, curves twisting steeper (2s10s +3.157 at 50.917) well...
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USDCAD TECHS: Trend Set-Up Still Bearish
- RES 4: 1.4175 High Jul 13
- RES 3: 1.4129 High Jul 28
- RES 2: 1.4080 High Aug 4 and 5
- RES 1: 1.3936 50-day EMA
- PRICE: 1.3812 @ 16:51 BST Sep 07
- SUP 1: 1.3732 Low Aug 21 and the bear trigger
- SUP 2: 1.3715 76.4% retracement of the May 1 - Jun 24 bull cycle
- SUP 3: 1.3672 Low May 12
- SUP 4: 1.3620 Low May 7
A bear theme in USDCAD remains intact and last Wednesday’s reversal reinforces this theme. Resistance at the 50-day EMA, at 1.3936, remains intact. A clear break of the average is required to strengthen any short-term bull theme and signal scope for a stronger retracement of the Jun 24 - Aug 21 bear leg. For bears, attention is on key near-term support at 1.3732, the Aug 21 low.
AUDUSD TECHS: Continues To Appreciate
- RES 4: 0.7310 1.00 proj of the Mar 30 - May 6 - Jun 30 price swing
- RES 3: 0.7278 High May 6 and key resistance
- RES 2: 0.7251 2.0% 10-dma envelope
- RES 1: 0.7225 High Sep 07
- PRICE: 0.7219 @ 16:50 BST Sep 07
- SUP 1: 0.7136 20-day EMA
- SUP 2: 0.7084 50-day EMA
- SUP 3: 0.7023 Low Aug 6 and 7
- SUP 4: 0.6922 Low Jul 29
A bull cycle in AUDUSD remains intact. The pair has started the week on a bullish note and a fresh cycle today reinforces current trend conditions. The move higher maintains the bullish price sequence of higher highs and higher lows. A continuation of the bull leg would pave the way for a climb towards 0.7278, the May 6 high and a key resistance. Key support to watch is the 50-day EMA at 0.7084. First support lies at the 20-day EMA, at 0.7136.
EURJPY TECHS: Key Support Remains Exposed
- RES 4: 187.47 High Jul 29 and a key resistance
- RES 3: 186.02 High Aug 21 and S/T bull trigger
- RES 2: 184.57 50-day EMA
- RES 1: 183.16 Low Aug 12
- PRICE: 179.49 @ 07:19 BST Sep 07
- SUP 1: 179.23/37 Low Sep 07 / Aug 03 and key support
- SUP 2: 178.82 High Oct 30 2025
- SUP 3: 178.48 3.0% 10-dma envelope
- SUP 4: 177.98 Low Nov 11 2025
A sharp pullback in EURJPY last week highlights a clear bearish threat and a potential reversal signal. The move down has exposed 179.23-37 as key support. Clearance of these levels would strengthen the bearish condition and highlight an important medium-term bearish development. Note that the short-term condition is oversold. Gains would be considered corrective and this would unwind the oversold position.
