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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

US

'Big Tech' Bill Goes To Senate

COMMODITIES

Oil Up For Fifth Week On Supply Disruption, Geopolitics

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  • EURHUF continues to recover having recently bounced from 360.99, the Dec 2 low. The move suggests scope for a climb towards key resistance at 371.99, the Nov 23 high where a break would confirm a resumption of the uptrend. Key support and the bear trigger has been defined at 360.99, Dec 2 low.
  • EURPLN continues to consolidate near recent lows and the short-term outlook still appears bearish. This follows last week’s strong selling pressure that resulted in a break of the 20- and 50-day EMAs. The move lower has exposed 4.5699, the Nov 3 low. Initial firm resistance is 4.6589, the Dec 1 high. A break would ease the bearish threat.
  • USDZAR bullish trend conditions remain in place. The recent pullback is considered corrective. A break of 15.7381, the Dec 1 low would suggest scope for an extension of this corrective cycle and open the 50-day EMA at 15.3953. On the upside, the bull trigger is at 16.3668, the Nov 26 high. A breach would confirm a resumption of the uptrend and expose 16.3815, 50.0% of the downleg between Mar 2020 - Jun 2021.
  • USDTRY is unchanged and is consolidating near recent highs. The path of least resistance remains up with the 14.00 handle exposed. The 20-day EMA at 12.1913 is an initial support.
  • USDRUB remains below recent highs. Recent dips are considered corrective and the most recent recovery from 73.3150, Dec 3 low, provides an early signal of a resumption of the uptrend. Further gains would expose 75.9190, the Nov 26 high and the bull trigger. A move below 73.3150 however would instead open the 50-day EMA at 72.9678.