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USDCAD TECHS

Resistance Remains Intact

AUDUSD TECHS

Trend Needle Points North

EURJPY TECHS

Bearish Outlook

COMMODITIES

WTI Sees Lowest Close Since January

USDJPY TECHS

Key Support Remains Exposed

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Bounce Mode

USDCAD TECHS
  • RES 4: 1.4000 Psychological round number
  • RES 3: 1.3970 3.236 proj of the Aug 25 - Sep 7 - 13 price swing
  • RES 2: 1.3896 3.00 proj of the Aug 25 - Sep 7 - 13 price swing
  • RES 1: 1.3664/3838 High Oct 4 / High Sep 30 and the bull trigger
  • PRICE: 1.3509 @ 15:27 BST Oct 5
  • SUP 1: 1.3449 20-day EMA
  • SUP 2: 1.3358 Low Sep 21
  • SUP 3: 1.3224 50-day EMA
  • SUP 4: 1.3139 Low Sep 14

Having traded lower Tuesday, USD/CAD bounced into the Wednesday close, but did little to change the narrative. The recent pullback highlights a short-term reversal and potential for a deeper retracement. This is seen as a long overdue correction and is allowing an overbought reading in the trend to unwind. Attention is on the next firm support at 1.3449, the 20-day EMA. A break would strengthen bearish conditions. Key resistance and the bull trigger, has been defined at 1.3838, the Sep 30 high.

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  • RES 4: 1.4000 Psychological round number
  • RES 3: 1.3970 3.236 proj of the Aug 25 - Sep 7 - 13 price swing
  • RES 2: 1.3896 3.00 proj of the Aug 25 - Sep 7 - 13 price swing
  • RES 1: 1.3664/3838 High Oct 4 / High Sep 30 and the bull trigger
  • PRICE: 1.3509 @ 15:27 BST Oct 5
  • SUP 1: 1.3449 20-day EMA
  • SUP 2: 1.3358 Low Sep 21
  • SUP 3: 1.3224 50-day EMA
  • SUP 4: 1.3139 Low Sep 14

Having traded lower Tuesday, USD/CAD bounced into the Wednesday close, but did little to change the narrative. The recent pullback highlights a short-term reversal and potential for a deeper retracement. This is seen as a long overdue correction and is allowing an overbought reading in the trend to unwind. Attention is on the next firm support at 1.3449, the 20-day EMA. A break would strengthen bearish conditions. Key resistance and the bull trigger, has been defined at 1.3838, the Sep 30 high.