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USDCAD TECHS

Approaching Major Support

US TSYS SUMMARY

Inflation Concerns Underpin Bear Steepening

AUDUSD TECHS

Bullish Theme

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  • RES 4: 0.8791 High Feb 12
  • RES 3: 0.8731/53 High Feb 26 / 2.0% 10-dma envelope
  • RES 2: 0.8705 High Mar 1
  • RES 1: 0.8698 High Apr 9
  • PRICE: 0.8659 @ 06:08 BST Apr 13
  • SUP 1: 0.8582 Low Apr 7
  • SUP 2: 0.8472 Low Apr 5 and the bear trigger
  • SUP 3: 0.8430/12 Low Feb 27, 2020 / 3.0% Lower Bollinger Band
  • SUP 4: 0.8356 Low Feb 26

A bullish short-term EURGBP outlook remains intact with the cross holding onto recent gains. Last week's gains reinforce the current bullish theme following the bullish engulfing reversal pattern on Mar 6. Recent gains have seen prices top the key resistance at 0.8646, Mar 24 high and the 50-day EMA. An extension higher would open 0.8731, Feb 26 high where a break would strengthen the current bull cycle. Initial support is at 0.8582, Apr 7 low.