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AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

USDJPY TECHS

Bullish Argument Down, But Not Out

EURGBP TECHS

Attention Is On Resistance

EQUITIES

Stocks Higher as Stimulus Here to Stay

COMMODITIES

Gold Extends Uptrend, 200-dma Eyed

Constructive Above 1.30

CABLE TECHS
  • RES 4: 1.3335 2.0% 10-dma envelope
  • RES 3: 1.3284 High Dec 31, 2019
  • RES 2: 1.3200 High Mar 9 and a key resistance
  • RES 1: 1.3186 High Aug 6
  • PRICE: 1.3058 @ 04:47 BST Aug 13
  • SUP 1: 1.2945 Low Jul 30
  • SUP 2: 1.2838 Low Jul 28
  • SUP 3: 1.2781 Low Jul 27
  • SUP 4: 1.2717 Low Jul 24

The pair pulled off cycle highs printed on Thursday last week, but has steered clear of breaking below the 1.30 mark, keeping the outlook constructive for now. Layered support between 1.3010-19 was eroded Wednesday, which leaves bulls needing to defend the handle fiercely. To the upside, attention is on 1.3200 next, Mar 9 high where a break would open 1.3284, Dec 31 2019 high.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com