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USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

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  • RES 4: 1.2648 High Oct 6
  • RES 3: 1.2531 50-day EMA
  • RES 2: 1.2494 Low Sep 3 and a recent breakout level
  • RES 1: 1.2410 High Oct 18
  • PRICE: 1.2378 @ 16:33 BST Oct 26
  • SUP 1: 1.2288 Low Oct 21
  • SUP 2: 1.2253 Low Jun 23
  • SUP 3: 1.2229 76.4% retracement of the Jun - Aug rally
  • SUP 4: 1.2157 Low Jun 16

USDCAD continues to consolidate and recent price action appears to be a bear flag - the trend conditions remain bearish. This follows the recent break of the Jul 30 low of 1.2422 and has opened 1.2253 next, the Jun 23 low. Note too that moving average conditions remain in a bear mode, reinforcing current trend conditions. Initial firm resistance is seen at 1.2494, Sep 3 low. A break would ease bearish pressure.