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USDCAD TECHS

Remains Vulnerable

AUDUSD TECHS

Northbound

US TSYS

Late SOFR/Eurodollar/Treasury Option Roundup

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Bear Flag

AUDUSD TECHS
  • RES 4: 0.6581 50-day EMA
  • RES 3: 0.6656 High Sep 23
  • RES 2: 0.6547 High Oct 4 and key resistance
  • RES 1: 0.6363/6393 Low Sep 28 / 20-day EMA
  • PRICE: 0.6334 @ 16:28 BST Oct 21
  • SUP 1: 0.6170 Low Oct 13
  • SUP 2: 0.6133 1.382 proj of the Apr 5 - May 12 - Jun 3 price swing
  • SUP 3: 0.6099 76.4% retracement of the 2020 - 2021 bull cycle
  • SUP 4: 0.6035 1.50 proj of the Apr 5 - May 12 - Jun 3 price swing

AUDUSD is consolidating and this pause in the trend appears to be a bear flag. A bearish theme remains intact and short-term gains are considered corrective. Price has recently cleared 0.6363, the Sep 28 low and bear trigger. This confirmed a resumption of the primary downtrend and the print below 0.6200 exposes 0.6133 next, a Fibonacci projection. On the upside, initial firm resistance to watch is 0.6393, the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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