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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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  • RES 4: 1.2455 50-day EMA
  • RES 3: 1.2419 High Apr 27
  • RES 2: 1.2351 High May 4 and a key near-term resistance
  • RES 1: 1.2203/2288 High May 13 / High May 6
  • PRICE: 1.2114 @ 17:07 BST May 14
  • SUP 1: 1.2046 Low May 12
  • SUP 2: 1.2000 Psychological round number
  • SUP 3: 1.1978 2.0% 10-dma envelope
  • SUP 4: 1.1920 Low May 2015

USDCAD traded lower again mid-week as the bear cycle extends. The week's key technical development has been a test of the major support at 1.2062, Sep 2017 low. This represents an important pivot chart point that either represents the base of a broad range or the midpoint of a double top reversal pattern. A clear break lower would reinforce the current downtrend and open 1.2000 and below. Initial firm resistance is at 1.2203, May 13 high.