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USDCAD TECHS

Needle Still Points South

US TSYS

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AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

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Bearish Focus

AUDUSD TECHS
  • RES 4: 0.8007 High Feb 25
  • RES 3: 0.7891/95 High May 10 / 76.4% of the Feb 25 - Apr 1 sell-off
  • RES 2: 0.7813/46 High May 18 / High May 12
  • RES 1: 0.7773 High Jun 2
  • PRICE: 0.7763 @ 17:12 BST Jun 7
  • SUP 1: 0.7646 Low Jun 3
  • SUP 2: 0.7635 Low Apr 14
  • SUP 3: 0.7586 Low Apr 13
  • SUP 4: 0.7536 200-dma

AUDUSD broke through 0.7675 Thursday but has since reversed the sharp move lower. Last week's break lower does signal the end of the recent period of consolidation that has been in place since mid-April. A resumption of weakness would open 0.7586, Apr 13 low and 0.7532, Apr 1 low and a key support. Initial resistance is at 0.7773, Jun 2 high ahead of 0.7813, May 18 high. A break of the latter would ease any developing bearish pressure.