HUNGARY: White House Eyes Budapest for US-Russia-Ukraine Summit
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USDCAD TECHS: Has Pierced The 50-Day EMA
- RES 4: 1.3920 High May 21
- RES 3: 1.3862 High May 29
- RES 2: 1.3798 High Jun 23
- RES 1: 1.3746/74 50-day EMA / High Jul 17
- PRICE: 1.3719 @ 08:00 BST Jul 21
- SUP 1: 1.3639/3557 Low Jul 08 / 03
- SUP 2: 1.3540 Low Jun 16 and the bear trigger
- SUP 3: 1.3503 1.618 proj of the Feb 3 - 14 - Mar 4 price swing
- SUP 4: 1.3473 Low Oct 2 2024
USDCAD is unchanged and trades closer to its recent highs. Attention is on resistance at 1.3746, the 50-day EMA. It has been pierced. A clear break of it is required to highlight a possible stronger S/T reversal. This would open 1.3798, Jun 23 high. For now, a bear trend remains in place. A resumption of weakness would refocus attention on key support at 1.3540, the Jun 16 low. Clearance of this level would confirm a resumption of the downtrend.
GILTS: Higher Open Seen
Futures called 91.35-45 at the open.
EQUITIES: European Futures Back Towards Unchanged Following Rally
The rally in European equity index futures takes the major contracts back towards unchanged levels, although they still operate below Friday’s settlement:
- Euro Stoxx 50 futures: -0.04%
- DAX futures: -0.05%
- CAC 40 futures: -0.07%
- FTSE MIB Futures -0.17%
- FTSE 100 futures: -0.05%
- SMI futures: -0.17%
