The EURGBP trend condition remains bearish. Last week, the cross printed a fresh 2023 low, at 0.8567 on Jun 1. Note too that the DMA space also signals downside momentum and a potential death cross (50-dma < 200-dma). The focus is on 0.8562 next, the Dec 13 low. The 14d RSI is technically oversold for the first time since March 2021 - a price reversal would signal scope for a correction. Initial firm resistance is at 0.8677 the 20-day EMA.
Find more articles and bullets on these widgets:
USDCAD traded lower still Friday and has resumed the bear leg that started Apr 28. Note too that price has breached both the 20- and 50-day EMAs and this suggests scope for a deeper retracement. Sights are on 1.3442, a Fibonacci retracement and 1.3436, the 1.0% 10-dma envelope. On the upside, key resistance has been defined at 1.3668, the Apr 28 high. A break of this level is required to reinstate a bullish theme.
Treasury futures remain weaker after the bell, drifting near the middle of a wide session range after stronger than expected April employment data took some of the hot air out of rate pause/cuts expectations.
AUDUSD traded higher Friday and has cleared resistance at the 50-day EMA. A continuation would signal scope for a test of 0.6772, the Apr 20 high and a breach of this level would expose key resistance at 0.6806, Apr 14 high. On the downside, key support to watch lies at 0.6565, Mar 10 low. Clearance of this level would be bearish and would resume the downtrend that started Feb 2.