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USDCAD TECHS

Bulls Remain In Charge

AUDUSD TECHS

Southbound

(H1) RBA Rally Falters

AUSSIE 10-YEAR TECHS
  • RES 3: 99.165 - High Nov 20
  • RES 2: 99.035 - High Dec 23 and key resistance
  • RES 1: 99.002 - 50-DMA
  • PRICE: 98.825 @ 16:04 GMT Feb 1
  • SUP 1: 98.790 - Low Jan 12
  • SUP 2: 98.721 - 61.8% March 2020 Sell-off
  • SUP 3: 98.570 - Low Mar 20

The RBA rate decision saw prices spike higher, touching 98.885 before prices faded into the close to keep the technical picture unchanged. Recent weakness saw prices slip through key support at the June 2020 lows of 98.810 in the most recent downtick, highlighting the bearish threat. This signals scope for a deeper pullback, opening 98.721 and below. On the upside, an initial key resistance has been defined at 99.035, Dec 23 high. A break is required to ease the bearish pressure.