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USDCAD TECHS

Pullback Considered Corrective

AUDUSD TECHS

Trend Indicators Point South

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  • RES 4: $27.831 - High Jun 16
  • RES 3: $26.775/27.245 - High Jul 6 and key resistance / High Jun 17
  • RES 2: $26.467 - High Jul 14
  • RES 1: $25.761 - High Jul 19
  • PRICE: $25.197 @ 07:18 BST Jul 22
  • SUP 1: $24.758 - Low Jul 21
  • SUP 2: $24.686 - Low Apr 13
  • SUP 3: $24.257 - Low Apr 1
  • SUP 4: $23.781 - Low Mar 31and key support

Silver is trading closer to recent lows and remains bearish. The metal has breached support at $25.529, Jun 29 low and bear trigger. The break confirms a resumption of the downleg that started May 18. Note that $24.955, 76.4% of the Mar 31 - May 18 rally has been breached. This opens $24.686, Apr 13 low. MA studies are in a bear mode reinforcing the current bearish theme. Key resistance has been defined at $26.775, Jul 6 high.