BUND TECHS: (Z6) Monitoring Resistance

• RES 4: $76.158 - 61.8% retracement of the May 13 - Jul 17 bear leg
• RES 3: $74.131 - High Jun 5
• RES 2: $72.076 - 50.0% retracement of the May 13 - Jul 17 bear leg
• RES 1: $71.142 - High Aug 28         
• PRICE: $65.578 @ 08:11 BST Sep 07
• SUP 1: $63.316/62.029 - Low Sep 2 / 61.8% of Jul 17-Aug 28 bull leg
• SUP 2: $54.778 - Low Jul 17 and bear trigger 
• SUP 3: $52.577 - 1.000 proj of the Mar 2 - 23 - May 13 price swing
• SUP 4: $50.000 - Psychological round number

The current bull cycle in Silver remains intact. While the latest pullback appears corrective, it is worth noting that price has traded through support around the 50-day EMA, at $64.812. A clear break of the EMA would signal scope for a deeper retracement and open $61.029, a Fibonacci retracement point. Key short-term resistance has been defined at $71.142, the Aug 28 high. Clearance of this hurdle would confirm a resumption of the bull leg.

• 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: 1.3836 @ 08:07 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.

• 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: 0.7223 High May 15
• RES 1: 0.7218 Intraday high
• PRICE: 0.7214 @ 08:02 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.