Trial now
GERMAN AUCTION RESULTS

Technically uncovered Schatz auction (again)

BOND SUMMARY

NGEU and US PPI the highlights today

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

  • RES 4: 1.2653 High Apr 21 and the bull trigger
  • RES 3: 1.2491 High Apr 26
  • RES 2: 1.2413 20-day EMA
  • RES 1: 1.2365/2419 Low Mar 18 / High Apr 27
  • PRICE: 1.2264 @ 06:44 BST May 6
  • SUP 1: 1.2252 Low May 5 and the bear trigger
  • SUP 2: 1.2239 1.236 proj of Jan 28 - Feb 25 - Feb 26 price swing
  • SUP 3: 1.2178 1.382 proj of the Jan 28 - Feb 25 - Feb 26 price swing
  • SUP 4: 1.2105 2.0% 10-dma envelope

USDCAD is weak and touched a new multi-year low yesterday at 1.2252. This keeps the pair in bear mode following last week's move to fresh cycle lows. The break of 1.2365, Mar 18 low confirmed a resumption of the downtrend that has been in place since March 2020. MA studies are in a bear mode, reinforcing current trend conditions. The focus is on 1.2239, a Fibonacci projection. On the upside, initial resistance is at 1.2365/2419.