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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: $1844.9 - Low Jun 14
  • RES 3: $1834.1 - High Jul 15 and the bull trigger
  • RES 2: $1808.7 - High Sep 14
  • RES 1: $1800.6 - High Oct 14 and key short-term resistance
  • PRICE: $1775.4 @ 07:19 BST Oct 20
  • SUP 1: $1758.3 - Low Oct 13
  • SUP 2: $1746.0 - Low Oct 6 and key near-term support
  • SUP 3: $1721.7 - Low Sep 29 and the bear trigger
  • SUP 4: $1717.8 - Low Aug 10

Gold failed to hold onto recent highs and Friday's sharp sell-off continues to highlight a potential bearish threat. Key short-term resistance has been defined at $1800.6, the Oct 14 high. A resumption of weakness would expose support at $1746.0, Oct 6 low and clearance of this level would reinforce a bearish threat and attention would turn to $1721.7, Sep 29 low. For bulls, a break of $1800.6 is required to reinstate the recent bullish theme.