USDCAD TECHS: Southbound
- RES 4: 1.3410 50-day EMA
- RES 3: 1.3355 High Jun 15
- RES 2: 1.3311 20-day EMA
- RES 1: 1.3270 High Jun 20
- PRICE: 1.3157 @ 08:02 BST Jun 26
- SUP 1: 1.3139 Low Jun 22
- SUP 2: 1.2992 50.0% retracement of the Jun - Oct 2022 bull rally
- SUP 3: 1.2954 Low Sep 13 2022
- SUP 4: 1.2895 Low Aug 25
USDCAD is trading closer to last week’s lows and a downtrend remains intact. Fresh trend lows last week strengthens bearish conditions and maintains the price sequence of lower lows and lower highs. Moving average studies are in a bear-mode position, highlighting current sentiment. Scope is seen for a move towards 1.2992, a Fibonacci retracement. On the upside, firm resistance is seen at 1.3311, the 20-day EMA.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
JGB TECHS: (M3) Corrects Lower
- RES 3: 151.26 - High Mar 3 2022
- RES 2: 149.75/150.81 - High Nov 11 / High Aug 5 2022
- RES 1: 149.53 High Mar 22
- PRICE: 148.53 @ 16:25 BST May 26
- SUP 1: 147.31/27 - 50-day EMA / Low Apr 18
- SUP 2: 145.80/144.73 - Low Mar 13 / Low Feb 13
- SUP 3: 144.15 - Low Jan 13
JGBs slid sharply Thursday, as hawkish Ueda comments prompted a correction. The bounce Friday helped stall any more protracted pullback, although the gap with next resistance at 149.17 remains. The strong recovery from 147.27, the Apr 18 low confirms the corrective nature of the recent pullback, keeping medium-term attention on 149.53, the Mar 22 high and the bull trigger. A break of this level would confirm a resumption of the uptrend. To the downside, the 50-dma provides support at 147.31, just above the Apr 18 low.
MNI: TREASURY GENERAL ACCOUNT $38.8B MAY 25 VS $49.5B PREV DAY
- MNI: TREASURY GENERAL ACCOUNT $38.8B MAY 25 VS $49.5B PREV DAY
USDCAD TECHS: Key Short-Term resistance Remains Exposed
- RES 4: 1.3805 High Mar 24
- RES 3: 1.3730 76.4% retracement of the Mar 10 - Apr 14 low
- RES 2: 1.3695 High Mar 28
- RES 1: 1.3668 High Apr 28 and key resistance
- PRICE: 1.3631 @ 16:54 BST May 26
- SUP 1: 1.3485/1.3404 Low May 23 / 16
- SUP 2: 1.3363/15 Low May 11 / 8
- SUP 3: 1.3302 Low Apr 14 and a key near-term support
- SUP 4: 1.3275 Low Feb 14
USDCAD continues to appreciate and a bullish theme remains intact. Sights are set on resistance at 1.3668, the Apr 28 high and a key level. Clearance of this hurdle would strengthen the case for bulls and pave the way for a move towards 1.3695, the Apr 28 high. On the downside, initial support lies at 1.3485, the May 23 low. A break of 1.3404, the May 16 low, is required to reinstate a bearish threat.
