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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: 0.8595 High Nov 5 and a key resistance
  • RES 3: 0.8538/74 High Nov 15 / High Nov 11
  • RES 2: 0.813 61.8% retracement of the Nov 5 - 22 sell-off
  • RES 1: 0.8496 High Nov 26
  • PRICE: 0.8471 @ 16:34 GMT Nov 29
  • SUP 1: 0.8411/8381 Low Nov 26 / Low Nov 22
  • SUP 2: 0.8356 Low Feb 26, 2020
  • SUP 3: 0.8339 Low Feb 25, 2020
  • SUP 4: 0.8282/77 Low Feb 18, 2020 / Low Dec 13, 2019

EURGBP traded sharply higher Friday before moderating for much of the Monday session. Trend conditions however remain bearish following the recent sharp sell-off and break of 0.8403, Oct 26 low. The short-term focus is on 0.8356 next, Feb 26, 2020 low. Note that the cross is also approaching the base of a broad multi-year range at 0.8300/8280. This area represents a major support. Key intraday resistance is at Friday’s high of 0.8496.