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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: 0.7284 Former channel base drawn from the Aug 20 low
  • RES 3: 0.7209 High Nov 25
  • RES 2: 0.7187 20-day EMA
  • RES 1: 0.7170 High Dec 8
  • PRICE: 0.7185 @ 06:45 GMT Dec 9
  • SUP 1: 0.7115/7040 Low Dec 8 / Low Dec 7
  • SUP 2: 0.6993/91 Low Dec 3 / Low Nov 2 2020 and a key support
  • SUP 3: 0.6963 Low Jul 16 2020
  • SUP 4: 0.6921 Low Jul 14 2020

AUDUSD continues to recover following this week's bounce off 0.6993, the Dec 3 low. The pair has arrived at the 20-day EMA that intersects at 0.7185. A clear breach of this average would strengthen the current bull phase and expose 0.7287, the base of the bull channel drawn from the Aug 20 low. The channel base was breached on Nov 19. For bears, a reversal lower would refocus attention on 0.6991, Nov 2 low and the bear trigger.