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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

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  • RES 4: 1.3835 High Oct 20
  • RES 3: 1.3698 High Nov 4
  • RES 2: 1.3514/3607 High Nov 18 and a key resistance / High Nov 9
  • RES 1: 1.3461 20-day EMA
  • PRICE: 1.3302 @ 16:32 GMT Nov 29
  • SUP 1: 1.3279 Low Nov 26
  • SUP 2: 1.3216 1.236 proj of the Sep 14 - 29 - Oct 20 price swing
  • SUP 3: 1.3188 Low Dec 21 2020
  • SUP 4: 1.3165 38.2% Mar ‘20 - Jun ‘21 Upleg

GBPUSD bears have retaken control Monday, with prices reversing the Friday gains. Last week’s breach of 1.3353, Nov 12 low confirmed a resumption of the downtrend and an extension of the price sequence of lower lows and lower highs. Furthermore, moving average studies remain in a bear mode, reinforcing current bearish conditions. The focus is on 1.3216 next, a Fibonacci projection level. Firm resistance has been defined at 1.3514, Nov 9 high.