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USDCAD TECHS

Circling Major Support

US TSYS SUMMARY

Stocks and Rates Near Session Highs Late

AUDUSD TECHS

Tepid Bounce

LATAM

OUTLOOK: WEEK AHEAD

US EURODLR OPTIONS

Nice Mark for Early Put Buyer

Inches Closer to Last Week’s Lows

EURO-DOLLAR TECHS
  • RES 4: 127.13/126.81 2.0% 10-dma envelope / High Apr 17, 2019
  • RES 3: 125.97 50% 2018 - 2020 Decline
  • RES 2: 125.83 2.0% Upper Bollinger Band
  • RES 1: 125.58 High Aug 6
  • PRICE: 124.58 @ 04:55 BST Aug 11
  • SUP 1: 123.86 20-day EMA
  • SUP 2: 122.84 Low Jul 24 and key support
  • SUP 3: 122.47 Low Jul 21
  • SUP 4: 121.82 Low Jul 15 and 16

Weakness into the Friday close extended throughout Monday hours as the cross neared last week's lows. Nonetheless, the cross remains strong despite recent moderation. The underlying uptrend looks to Fib resistance at 125.97 and 126.68. RSI measures have fallen back out of overbought territory, which may give markets an opportunity to reinitiate fresh longs. To the downside, a close below 123.06 would signal a top and highlight the potential for a correction.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com