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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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  • RES 4: 1.2469 50-day EMA
  • RES 3: 1.2419 High Apr 27
  • RES 2: 1.2351 High May 4 and a key near-term resistance
  • RES 1: 1.2194/2288 High May 7 / High May 6
  • PRICE: 1.2086 @ 16:21 BST May 11
  • SUP 1: 1.2079 Low May 10
  • SUP 2: 1.2062 Low Sep 2017 and a major support
  • SUP 3: 1.2007 2.0% 10-dma envelope
  • SUP 4: 1.1920 Low May 2015

USDCAD remains in a clear downtrend and continues to register fresh lows. Moving average studies are in a bear mode and the move lower confirms an extension of the bearish price sequence of lower lows and lower highs. The pair is approaching a major pivot support at 1.2062, the Sep 2017 low. This level will potentially either reinforce the current M/T bear leg if breached or lead to a reversal if the support manages to contain CAD strength.