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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

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  • RES 4: 1.3698 High Nov 4
  • RES 3: 1.3607 High Nov 9
  • RES 2: 1.3514 High Nov 18 and a key resistance
  • RES 1: 1.3370/3407 High Nov 30 / 20-day EMA
  • PRICE: 1.3298 @ 06:09 GMT Dec 3
  • SUP 1: 1.3195 Low Nov 30 and the bear trigger
  • SUP 2: 1.3188 Low Dec 21 2020
  • SUP 3: 1.3165 38.2% Mar ‘20 - Jun ‘21 Upleg
  • SUP 4: 1.3074 2.0% 10-dma envelope

GBPUSD is unchanged. The pair traded sharply lower Tuesday, down to 1.3195 before recovering. The trend condition is bearish and 1.3195 represents an important short-term support given the volatile nature of price action earlier this week. A break would resume the downtrend and pave the way for weakness towards 1.3165, a retracement level. A stronger near-term recovery however would expose the 20-day EMA at 1.3407.