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INDONESIA CENTRAL BANK

MNI Bank Indonesia Preview - November 2022: Another 50bp

GOLD

Edging Away From Tuesday’s Peak

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Key Resistance Remains Exposed

USDCAD TECHS
  • RES 4: 1.3300 High Nov 4 2020
  • RES 3: 1.3292 2.0% 10-dma envelope
  • RES 2: 1.3224 High Jul 14 and key resistance
  • RES 1: 1.3208 High Sep 1
  • PRICE: 1.3084 @ 16:01 BST Sep 2
  • SUP 1: 1.3063/1.2983 High Aug 23 / 20-day EMA
  • SUP 2: 1.2895 Low Aug 25 and key near-term support
  • SUP 3: 1.2828 Low Aug 17
  • SUP 4: 1.2770 Low Aug 15

USDCAD rallied again Thursday, with the bull theme remaining in tact despite the Friday pullback. Attention is on 1.3224, a key resistance and the Jul 14 high. A break would represent an important bullish development. Note that moving average studies are in a bull mode set-up, highlighting a broader uptrend. Initial firm support is at 1.2895. A break would alter the picture. Initial support lies at .3063, the Aug 23 high and a recent breakout level.

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  • RES 4: 1.3300 High Nov 4 2020
  • RES 3: 1.3292 2.0% 10-dma envelope
  • RES 2: 1.3224 High Jul 14 and key resistance
  • RES 1: 1.3208 High Sep 1
  • PRICE: 1.3084 @ 16:01 BST Sep 2
  • SUP 1: 1.3063/1.2983 High Aug 23 / 20-day EMA
  • SUP 2: 1.2895 Low Aug 25 and key near-term support
  • SUP 3: 1.2828 Low Aug 17
  • SUP 4: 1.2770 Low Aug 15

USDCAD rallied again Thursday, with the bull theme remaining in tact despite the Friday pullback. Attention is on 1.3224, a key resistance and the Jul 14 high. A break would represent an important bullish development. Note that moving average studies are in a bull mode set-up, highlighting a broader uptrend. Initial firm support is at 1.2895. A break would alter the picture. Initial support lies at .3063, the Aug 23 high and a recent breakout level.