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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: 112.173 0.618 proj of the Feb 26 - Mar 2 - Mar 10 price swing
  • RES 3: 112.172 50-day EMA (cont)
  • RES 2: 112.165 High Mar 25 and the bull trigger
  • RES 1: 112.150 High Apr 8
  • PRICE: 112.120 @ 05:26 BST Apr 13
  • SUP 1: 112.100 Low Apr 9
  • SUP 2: 112.070 Low Mar 18 and a key near-term support
  • SUP 3: 112.060 Low Mar 10
  • SUP 4: 112.026 61.8% retracement of the Feb 26 - Mar 25 rally

Initial Schatz futures resistance has been defined at 112.150, Mar 25 high. The contract also remains below the key resistance at 112.165, Mar 25 high. Recent gains are considered corrective and a bearish focus remains intact. A move lower would expose support at 112.070, Mar 18 low where a break would strengthen a bearish argument and open 112.060, Mar 10 low and potentially below. Clearance of 112.165 would reinstate a bullish theme.