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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

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'Big Tech' Bill Goes To Senate

COMMODITIES

Oil Up For Fifth Week On Supply Disruption, Geopolitics

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  • RES 4: $1909.7 - High Jun 3
  • RES 3: $1903.8 - High Jun 8
  • RES 2: $1877.2/85.4 High Nov 16 / Bull channel top
  • RES 1: $1815.6/49.1 - High Nov 26 / High Nov 22
  • PRICE: $1794.3 @ 08:27 GMT Nov 29
  • SUP 1: $1778.7 - Low Nov 24
  • SUP 2: $1759.0 - Low Nov 3 and a key support
  • SUP 3: $1757.9 - Bull Channel base drawn from the Aug 9 low
  • SUP 4: $1721.7 - Low Sep 29 and a key support

Gold is still consolidating and remains vulnerable. The yellow metal sold off sharply early last week extending the move lower from $1877.2, the Nov 16 high. Price has also traded below the 20- and the 50-day EMAs. The clear breach of these averages suggests scope for a deeper pullback and attention is on the base of a bull channel at $1757.9. The channel is drawn off the Aug 9 low. Initial resistance is at $1815.6, the Nov 26 high.