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USDCAD TECHS

Still Looking For Gains

AUDUSD TECHS

Remains Vulnerable

EURJPY TECHS

Recent Highs Remain Intact

USDJPY TECHS

Holding Onto Gains

EURGBP TECHS

Bearish Risk

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  • RES 4: 1.2864 50-day EMA
  • RES 3: 1.2835 High Nov 11
  • RES 2: 1.2833 1.0% 10-dma envelope
  • RES 1: 1.2799 High Jan 18
  • PRICE: 1.2760 @ 16:58 GMT Jan 18
  • SUP 1: 1.2625 Low Jan 14
  • SUP 2: 1.2603 1.236 proj of Oct 29 - Nov 9 downleg from Nov 13 high
  • SUP 3: 1.2586 Low Apr 19, 2018
  • SUP 4: 1.2536 1.382 proj of Oct 29 - Nov 9 downleg from Nov 13 high

USDCAD rallied throughout the Friday and Monday sessions, bouncing off a fresh trend low of 1.2625 printed last week. The underlying downtrend remains in place with the focus on 1.2603 next, a Fibonacci projection. Moving average studies remain in a bear mode reinforcing current trending conditions. On the upside, initial resistance is seen at 1.2833, the 1.0% 10-dma envelope. Key resistance though is located at 1.2835, Nov 11 high.