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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

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  • RES 4: 132-16 High Sep 23
  • RES 3: 132-00 Round number resistance
  • RES 2: 131-21 High Sep 24
  • RES 1: 131-16 High Dec 3 and the bull trigger
  • PRICE: 130-11 @ 12:17 GMT Dec 8
  • SUP 1: 130-09/08+ 20-day EMA / Low Dec 7
  • SUP 2: 129-24 61.8% retracement of the Nov 24 - Dec 3 rally
  • SUP 3: 128-22+ Low Nov 24 and key support
  • SUP 4: 128-00 Round number support

Treasuries continue to pull away from key short-term resistance at 131-16, Dec 3 high. Attention is on the 20-day EMA at 130-09. A break of this average would undermine recent bullish signals and highlight potential for a deeper pullback, perhaps down to 129-24+, a Fibonacci retracement. On the upside, clearance of 131-16 would instead reinstate a bullish outlook and open 131-21, Sep 24 high and 132-00.