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EUROZONE ISSUANCE

EGB Supply for W/C Jul 26

USDCAD TECHS

Pullback Considered Corrective

US TSYS SUMMARY

What a Short, Strange Trip It's Been

GLOBAL POLITICAL RISK

Pfizer, Moderna Jabs Retain High Trust; AZ, Sputnik Lower

AUDUSD TECHS

Trend Indicators Remain Bearish

Approaching Key Resistance

EURO-SWISS TECHS

The cross is on course to test major resistance.

  • On Aug 18, we highlighted developing bullish conditions in EURCHF.
  • Positive trend conditions are currently defined by the moving average structure we apply to a point and figure chart.
  • The chart (see below) highlights a trend reversal that occurred in May, ending a 24-month bear-trend.
  • The cross has most recently, since Aug 27, recovered off a key support defined at 1.0740 and today this move has accelerated, resulting in a breach of resistance at 1.0849, Aug 19 high.
  • The next key test for bulls is 1.0900, the June reaction high on the P&F chart (1.0916 is the intraday high on Jun 5). A break of 1.0900, defined by a 1.0920 print, would reinforce bullish conditions
  • 1.0740 marks the initial support. Major support is at 1.0620.
  • Medium-term trend conditions are improving for bulls.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com