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AUSSIE 3-YEAR TECHS

(Z1) Sell-Off Resumes

RBA

VIEW: CBA Rolls Forward RBA Hike Call

AUSSIE BONDS

CPI Fallout Continues Overnight

ASIA

Coming up in the Asia-Pac session on Thursday:

Consolidation Mode

USDCAD TECHS
  • RES 4: 1.2419 High Apr 27
  • RES 3: 1.2351 High May 4 and a key near-term resistance
  • RES 2: 1.2257 50-day EMA
  • RES 1: 1.2142/2203 High May 27 / High May 6
  • PRICE: 1.2087 @ 07:50 BST Jun 8
  • SUP 1: 1.2007 Low May 18
  • SUP 2: 1.2000 Psychological round number
  • SUP 3: 1.1920 Low May 2015
  • SUP 4: 1.1836 2.0% 10-dma envelope

USDCAD remains in a range. Trend conditions however remain bearish. The pair printed a new trend low of 1.2007 on Jun 1 , extending the primary downtrend. USDCAD continues to erode major support at 1.2062, Sep 2017 low. This level represents an important pivot point marking either the base of a broad range or the midpoint of a double top reversal. Initial firm resistance is at 1.2203, May 13 high.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com