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Preview $24B 20Y Tsy Auction Re-Open

ARGENTINA

Widespread Price Freeze Ahead Of Midterm Election

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  • RES 4: 1.2957 High Dec 21, 2020
  • RES 3: 1.2949 High Aug 20 and the bull trigger
  • RES 2: 1.2775/2896 High Sep 29 / High Sep 20
  • RES 1: 1.2562/2648 High Oct 8 / High Oct 4
  • PRICE: 1.2448 @ 16:31 BST Oct 13
  • SUP 1: 1.2422 Jul 30 low and a key support
  • SUP 2: 1.2367 61.8% retracement of the Jun - Aug rally
  • SUP 3: 1.2303 Low Jul 6
  • SUP 4: 1.2253 Low Jun 23

USDCAD is trading at recent lows and remains bearish following the move lower since the peak on Sep 20. The break of support at 1.2494, Sep 3 low signals scope for a deeper pullback and opens 1.2422, the Jul 30 low. Clearance of this support would strengthen the case for bears. On the upside, a breach of 1.2775, Sep 29 high would represent a bullish development instead. Initial firm resistance is at 1.2648, Oct 6 high.