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USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

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  • RES 4: 1.3913 High Sep 14
  • RES 3: 1.3854 High Sep 15
  • RES 2: 1.3795 76.4% retracement of the Sep 14 -29 downleg
  • RES 1: 1.3773 High Oct 15
  • PRICE: 1.3724 @ 15:54 BST Oct 18
  • SUP 1: 1.3650 20-day EMA
  • SUP 2: 1.3544/3412 Low Oct 6 / Low Sep 29 and the bear trigger
  • SUP 3: 1.3354 Low Dec 23, 2020
  • SUP 4: 1.3359 2.0% 10-dma envelope

GBPUSD traded higher once again Friday and the rally that started late September remains intact. The 50-day EMA has been cleared, this suggests scope for a stronger short-term rally that has opened 1.3795 next, a Fibonacci retracement. On the downside, a firm short-term support has been defined at 1.3544, Oct 6 low. A break of this level would reinstate a bearish focus and open 1.3412, Sep 29 low and the bear trigger.