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AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

USDCAD TECHS

Trend Structure Remains Bullish

US TSYS

Cautious Risk Appetite Gains Momentum

AUDUSD TECHS

Key Support Still Exposed

US STOCKS

Late Equity Roundup: 2W Highs

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Bearish Threat Still Present

EURGBP TECHS
  • RES 4: 0.8658 High Sep 29 2021
  • RES 3: 0.8643 High Sep 30 2021
  • RES 2: 0.8619 High May 12 and bull trigger
  • RES 1: 0.8534 High May 16
  • PRICE: 0.8443 @ 06:13 BST May 23
  • SUP 1: 0.8393/ 0.8391 Low May 17 / 61.8% of Apr 14 - May 12 upleg
  • SUP 2: 0.8367 Low May 2 and a key support
  • SUP 3: 0.8337 76.4% retracement of the Apr 14 - May 12 upleg
  • SUP 4: 0.8313 Low Apr 22

EURGBP remains above 0.8393, May 17 low. The recent bear leg is still considered corrective, however, given the pace of the sell-off between May 12-17, an extension lower still appears likely. Price has traded through the 20- and 50-day EMAs and this exposes 0.8367, May 2 low and a key support. On the upside, initial firm resistance to watch is at 0.8534, May 16 high. A break would refocus attention on 0.8619, the May 12 high and bull trigger.

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  • RES 4: 0.8658 High Sep 29 2021
  • RES 3: 0.8643 High Sep 30 2021
  • RES 2: 0.8619 High May 12 and bull trigger
  • RES 1: 0.8534 High May 16
  • PRICE: 0.8443 @ 06:13 BST May 23
  • SUP 1: 0.8393/ 0.8391 Low May 17 / 61.8% of Apr 14 - May 12 upleg
  • SUP 2: 0.8367 Low May 2 and a key support
  • SUP 3: 0.8337 76.4% retracement of the Apr 14 - May 12 upleg
  • SUP 4: 0.8313 Low Apr 22

EURGBP remains above 0.8393, May 17 low. The recent bear leg is still considered corrective, however, given the pace of the sell-off between May 12-17, an extension lower still appears likely. Price has traded through the 20- and 50-day EMAs and this exposes 0.8367, May 2 low and a key support. On the upside, initial firm resistance to watch is at 0.8534, May 16 high. A break would refocus attention on 0.8619, the May 12 high and bull trigger.