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FOREX

FX OPTION EXPIRY (for Monday)

BTP

Underperforms in EGBs

US TSY FUTURES

Yld Curves Extend Steeper

RUSSIA

Inflation Expectations Rise in June

Bullish Corrective Cycle Still In Play

USDCAD TECHS
  • RES 4: 1.2998 2.0% 10-dma envelope
  • RES 3: 1.2957 High Dec 21 and key resistance
  • RES 2: 1.2915 High Dec 23
  • RES 1: 1.2881 High Jan 28
  • PRICE: 1.2819 @ 17:25 GMT Feb 2
  • SUP 1: 1.2738 Low Jan 29
  • SUP 2: 1.2686 Low Jan 27
  • SUP 3: 1.2635 Low Jan 22
  • SUP 4: 1.2590 Low Jan 21 and major support

USDCAD maintains a bullish stance and appears set to extend the current corrective recovery following a recent rebound off cycle lows at 1.2590. The recent break of resistance at 1.2799, Jan 18 high and a move through the 50-day EMA signals scope for an extension higher. Prices last week topped resistance at 1.2880, Dec 24 high exposing 1.2957, the Dec 21 high. On the downside, firm near-term support is seen at 1.2686, Jan 27 low.