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USDCAD TECHS

Still Looking For Gains

AUDUSD TECHS

Remains Vulnerable

EURJPY TECHS

Recent Highs Remain Intact

USDJPY TECHS

Holding Onto Gains

EURGBP TECHS

Bearish Risk

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  • RES 4: $28.316 - High Sep 2
  • RES 3: $27.931 - High Jan 6 and a bull trigger
  • RES 2: $27.214 - High Jan 8
  • RES 1: $25.898 - High Jan 14 and key short-term resistance
  • PRICE: $25.493 @ 07:17 GMT Jan 20
  • SUP 1: $24.057 - Low Jan 18 and the bear trigger
  • SUP 2: $24.000 - Round number support
  • SUP 3: $23.323 - 76.4% of the rally between Nov 30 and Jan 6
  • SUP 4: $23.310 - Trendline resistance drawn off the Aug 7 high

Silver traded sharply lower Jan 8 and despite recovering off Monday's $24.057 low, still appears vulnerable. The metal has recently traded through $24.977, Dec 21 low signalling scope for a deeper corrective pullback. The next support to watch is $24.057, a break would open the former trendline resistance at $23.310, drawn off the Aug 7 high. Initial resistance is $25.898, Jan 14 high. A break would alter the picture.