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AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

USDCAD TECHS

Trend Structure Remains Bullish

US TSYS

Cautious Risk Appetite Gains Momentum

AUDUSD TECHS

Key Support Still Exposed

US STOCKS

Late Equity Roundup: 2W Highs

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Key Resistance Intact

GOLD TECHS
  • RES 4: $2075.5 - High Aug 7 and major resistance
  • RES 3: $2030.0 - High Aug 11
  • RES 2: $2025.4 - 76.4% retracement of the Aug 7 - 12 sell-off
  • RES 1: $2015.7 - High AUg 18
  • PRICE: $1987.7 @ 06:59 BST Aug 19
  • SUP 1: $1929.8 - High Aug 17
  • SUP 2: $1912.9 - Low Aug 13
  • SUP 3: $1863.2 - Low Aug 12 and the bear trigger
  • SUP 4: $1841.2 - Low Jul 22

Gold continued to retrace its recent sharp losses yesterday. Despite the extent of the move, recent gains are still considered a correction with a strong band of resistance evident up to 2030.0, the Aug 11 high. Sharp losses on this day highlighted a bearish candle pattern known as a standard line that signals scope for a deeper sell-off. Bulls would need to clear $2030.0 to offset the bearish risk. A sell-off would expose key support at $1863.2.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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