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USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

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  • RES 4: 1.3835 High Oct 20
  • RES 3: 1.3698 High Nov 4
  • RES 2: 1.3514/3607 High Nov 18 and a key resistance / High Nov 9
  • RES 1: 1.3490 20-day EMA
  • PRICE: 1.3350 @ 06:08 GMT Nov 25
  • SUP 1: 1.3316 Low Nov 24
  • SUP 2: 1.3304 Low Dec 22, 2020
  • SUP 3: 1.3216 1.236 proj of the Sep 14 - 29 - Oct 20 price swing
  • SUP 4: 1.3165 38.2% Mar '20 - Jun '21 Upleg

GBPUSD weakness this week has resulted in a breach of 1.3353, Nov 12 low and 1.3334, the 1.00 projection of the Sep 14 - 29 - Oct 20 price swing. This cements the bearish outlook and further downside is likely near-term. Furthermore, moving average studies are in a bear mode, reinforcing current conditions. The focus is on 1.3304 next, the Dec 22, 2020 low. Firm resistance is seen at 1.3514, Nov 9 high.