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Richer At The Margins In Asia

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(U2) Retracement Lower Extends

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AUD/USD Continues To Press Higher

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(U2) Corrective Pullback

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Spills Above Week’s High

USDCAD TECHS
  • RES 4: 1.3077 High May 16 and the bull trigger
  • RES 3: 1.2982 High May 16
  • RES 2: 1.2896 High May 18 and a key resistance
  • RES 1: 1.2686/2706 High Jun 2 / 20-day EMA
  • PRICE: 1.2635 @ 16:03 BST Jun 9
  • SUP 1: 1.2518 Low Jun 8
  • SUP 2: 1.2459 Low Apr 21
  • SUP 3: 1.2403/02 Low Apr 5 and key support / 2.0% 10-dma env
  • SUP 4: 1.2387 Low Nov 10. 2021

USDCAD traded higher into the Thursday close, breaking north of the mid-week highs at 1.2618, narrowing the gap with key resistance at 1.2896 - the May 18 high. While this level holds, the outlook remains bearish. Price has cleared 1.2562, the 76.4% retracement of the Apr 5 - May 12 uptrend. This opens 1.2459 next, Apr 21 low and signals scope for weakness towards 1.2403 further out, the Apr 5 low and a key support.

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  • RES 4: 1.3077 High May 16 and the bull trigger
  • RES 3: 1.2982 High May 16
  • RES 2: 1.2896 High May 18 and a key resistance
  • RES 1: 1.2686/2706 High Jun 2 / 20-day EMA
  • PRICE: 1.2635 @ 16:03 BST Jun 9
  • SUP 1: 1.2518 Low Jun 8
  • SUP 2: 1.2459 Low Apr 21
  • SUP 3: 1.2403/02 Low Apr 5 and key support / 2.0% 10-dma env
  • SUP 4: 1.2387 Low Nov 10. 2021

USDCAD traded higher into the Thursday close, breaking north of the mid-week highs at 1.2618, narrowing the gap with key resistance at 1.2896 - the May 18 high. While this level holds, the outlook remains bearish. Price has cleared 1.2562, the 76.4% retracement of the Apr 5 - May 12 uptrend. This opens 1.2459 next, Apr 21 low and signals scope for weakness towards 1.2403 further out, the Apr 5 low and a key support.