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EURUSD TECHS

Bear Cycle Extension

US TSY OPTIONS

30Y Put

COMMODITIES

Oil Bounces, Eyes Iran Poll and Gulf Weather

US EURODLR FUTURES

Large Red Sep'22 Sale

EQUITIES

Equities Sag as Rate Rise Fears Prompt Jitters

US EURODLR OPTIONS

Midcurve Put Sale

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  • RES 4: $1818.1 - 50.0% retracement of the Jan 6 - Mar 8 sell-off
  • RES 3: $1816.0 - High Feb 23
  • RES 2: $1805.7 - High Feb 25
  • RES 1: $1799.1 - High May 4
  • PRICE: $1792.7 @ 07:05 BST May 6
  • SUP 1: $1756.2 - Low Apr 29 and key near-term support
  • SUP 2: $1734.5 - Low Apr 15
  • SUP 3: $1721.4 - Low Apr 5
  • SUP 4: $1705.9 - Low Apr 1

Gold remains above support and underlying conditions are bullish. The yellow metal has defined a key short-term support at $1756.2 on Apr 29. Attention is on the key resistance at $1797.9, Apr 22 high. This level has been probed this week and a clear break would confirm a resumption of recent gains and open $1805.7, Feb 25 high. For bears, a break of $1756.2 would instead signal scope for a deeper pullback.