EGB OPTIONS: Bobl call Condor
OEN3 118.00/118.50/119.00/120.00 call condor bought for 1.5 in 4k
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USDCAD TECHS: Support At The February Lows Remains Exposed
- RES 4: 1.3695 High Mar 28
- RES 3: 1.3617 High Mar 29
- RES 2: 1.3549 50-day EMA
- RES 1: 1.3407/3448 Low Apr 4 / High Apr 13
- PRICE: 1.3347 @ 08:20 BST Apr 17
- SUP 1: 1.3302 Low Apr 14
- SUP 2: 1.3275 Low Feb 14
- SUP 3: 1.3262 Low Feb 2 and a key support
- SUP 4: 1.3226 Low Nov 15 2022
USDCAD remains bearish and last week’s sell-off confirmed a resumption of the downtrend. Support at 1.3407, the Apr 4 low has been cleared and this maintains the price sequence of lower lows and lower highs. The focus is on 1.3275 - mid-February lows and 1.3262, the Feb 2 low. Note that the RSI is close to flagging the pair as technically oversold for the first time in over 18 months. Initial firm resistance is seen at 1.3407.
CROSS ASSET: The Dollar drifts to session low
- The USD is turning offered, and the Currency is taking its cue from the Risk On tone, with some early buying interest into the EU cash Equity open.
- Emini eye Friday's high at 4189.00 for initial resistance, this was also the highest print since mid February.
- USD test session low against the EUR, GBP, AUD, CAD, THB.
- Gold is now circa $20 firmer from its intraday low, now at $2014.00.
AUDUSD TECHS: Unable So Far To Remain Above The 50-Day EMA
- RES 4: 0.6921 High Feb 20
- RES 3: 0.6861 50.0% retracement of the Feb 2 - Mar 10 bear leg
- RES 2: 0.6824 High Feb 24
- RES 1: 0.6736/0.6806 50-day EMA / High Apr 14
- PRICE: 0.6716 @ 08:16 BST Apr 17
- SUP 1: 0.6685/6620 Low Apr 14 / 10
- SUP 2: 0.6590 Low Mar 15
- SUP 3: 0.6565/47 Low Mar 10 / 61.8% of the Oct - Feb bull cycle
- SUP 4: 0.6500 Round number support
AUDUSD topped the 50-day EMA last but has failed to remain above the average. A key short-term resistance has been defined at 0.6806, Friday’s high. A break would reinstate a bullish theme and signal scope for a climb towards 0.6861, a Fibonacci retracement. On the downside, support to watch is 0.6620, the Apr 10 low. Clearance of this level would be seen as a bearish development and leave the bear trigger at 0.6565 exposed, Mar 10 low.
