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USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

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  • RES 4: 0.7716 High Jun 16
  • RES 3: 0.7630 1.236 proj of the Aug 20 - Sep 3 - Sep 29 price swing
  • RES 2: 0.7599 High Jul 6
  • RES 1: 0.7546/57 High Oct 21 / 50.0% of the Feb - Aug sell-off
  • PRICE: 0.7475 @ 06:45 BST Oct 22
  • SUP 1: 0.7454 Intraday low
  • SUP 2: 0.7379/55 Low Oct 18 / 50-day EMA
  • SUP 3: 0.7288 Low Oct 8
  • SUP 4: 0.7226/7170 Low Oct 6 / Low Sep 29

AUDUSD maintains a firmer short-term tone and Thursday's pullback is considered corrective. This week's gains have resulted in a break of 0.7478, the Sep 3 high and a bull trigger. The breach of this hurdle strengthens a bullish case and confirms a positive price sequence of higher highs and higher lows - the current bull phase started August 20. This has opened 0.7599 next, the Jul 6 high. Firm support is seen at 0.7355, the 50-day EMA.