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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: 4800.00 Round number resistance
  • RES 1: 4783.40 1.764 proj of Jul 19 - Aug 16 - 19 price swing
  • RES 2: 4740.50/46.68 High Nov 22 / 1.618 of Jul 19-Aug 16-19 swing
  • RES 1: 4669.75/4717.00 High Nov 29 / High Nov 26
  • PRICE: 4623.50 @ 14:17 GMT Dec 1
  • SUP 1: 4567.21/4577.00 Low Nov 30 / 50-day EMA
  • SUP 2: 4543.75 Low Oct 27
  • SUP 3: 4472.00 High Sep 27
  • SUP 4: 4317.25/4260.00 Low Oct 12 / Low Oct 1 and the bear trigger

S&P E-minis remain vulnerable following last week’s sharp sell-off and yesterday’s weakness. Attention is on the 50-day EMA at 4567.21. This average has in the past proved to be a reliable support and represents a key pivot level. If it manages to offer support, this would represent a potential bullish development and signal a base - the broader uptrend remains intact. A clear break however would highlight the risk of a deeper pullback.