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US 10YR FUTURE TECHS

(Z2)‌‌ Fades, But Broader Trend Intact

US TSYS

The Bullard Effect, Put Buyers Return

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USDCHF targets initial resistance

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EMERGING MARKETS
  • NFP came in higher than expected at 943K in July (vs. 870K exp.) and up from revised 938K the previous month, resulting in a higher USD (broad index).
  • USDTRY extends its recent gains, breaking above its 50DMA at 8.60 today, next resistance to watch on the topside stands at 8.80, which represents the pair's all time high.
  • USDRUB also continues to retrace higher and is currently testing its 1W high, trading slightly below 73.40; next resistance to watch on the topside stands at 73.80.
  • USDZAR has been oscillating around 14.50 since following yesterday's news (FinMin resigned); next level to watch on the topside stands at 14.65, which represents the pair's 1W high.
  • USDHUF bounced higher by 1 figure following the NFP release to reach a daily high of 299.66 before starting to consolidate lower; key resistance to watch on the topside stands at 300.
  • USDPLN ticks higher following the release and is currently testing its 3.87 resistance; a break above that level would open the door for a move up to 3.90 (July 28 high).
  • USDCZK has also been trending higher, approaching its 200DMA resistance at 21.59; next level to watch on the topside stands at 21.70.

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