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USDCAD TECHS

Approaching Major Support

US TSYS SUMMARY

Inflation Concerns Underpin Bear Steepening

AUDUSD TECHS

Bullish Theme

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  • RES 4: 1.3959 Former channel bull channel
  • RES 3: 1.3953 50% Retracement Feb - Mar Downleg
  • RES 2: 1.3919/49 High Apr 6
  • RES 1: 1.3840 High Apr 7
  • PRICE: 1.3727 @ 17:12 BST Apr 13
  • SUP 1: 1.3670/69 Low Mar 25 / Low Apr 12
  • SUP 2: 1.3663 Low Low Feb 5
  • SUP 3: 1.3641 38.2% retracement of the Sep 23 - Feb 24 bull cycle
  • SUP 4: 1.3567 Low Feb 4

GBPUSD maintains a softer tone and is trading closer to the lower end of its recent range. Firm resistance is at 1.3919, Apr 6 high. Also, a former bull channel drawn off the Nov 2, 2020 low highlights a key resistance at 1.3959. Clearance of 1.3919 and 1.3959 is required to strengthen a bullish argument. Attention is on key support 1.3670, Mar 25 low. A clean break would resume the downtrend and open 1.3641, a Fibonacci retracement.