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USDCAD TECHS

Fresh Lows Below 1.2062

AUDUSD TECHS

Extends This Week's Gains

JGB TECHS

(M1) Consolidating

EURJPY TECHS

Upside Extension Within Its Channel

(H1) Focus Is On Support

BRENT TECHS
  • RES 4: $58.86 - 2.00 proj of the Nov 13 - 26 rally from Dec 2 low
  • RES 3: $58.59 - 76.4% of the Jan - Apr 2020 sell-off (cont)
  • RES 2: $57.44 - 1.764 proj of the Nov 13 - 26 rally from Dec 2 low
  • RES 1: $56.64 - High Jan 20
  • PRICE: $55.44 @ 06:47 GMT Jan 26
  • SUP 1: $54.48/45 - Low Jan 22 / 20-day EMA
  • SUP 2: $53.02 - Low Jan 6
  • SUP 3: $51.42 - 50-day EMA
  • SUP 4: $50.56 - Low Jan 4

Brent futures remain below this year's high. Key short-term support has been defined at Friday's $54.48 low. A resumption of recent weakness would pave the way for a test of the 20-day EMA at $54.45 and if the average is breached, scope would exist for a deeper corrective decline and allow an overbought trend reading to unwind. On the upside, key resistance is at $57.42/44. A break would instead confirm a resumption of the uptrend.