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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 3: 99.860 - All time High Nov 3 and the bull trigger
  • RES 2: 99.835/840 - High Dec 23 / Nov 23/24 high
  • RES 1: 99.770 - High Mar 24
  • PRICE: 99.735 @ 16:24 BST May 4
  • SUP 1: 99.670 - Low Mar 15
  • SUP 2: 99.585 - Low Mar 5
  • SUP 3: 99.552 - 38.2% 2020 Rally

Aussie 3y futures are slightly weaker but continue to trade between 99.670-770. These two levels represent important directional triggers. A break of 99.670, Mar 15 low would signal a resumption of bearish pressure and open the early Mar low of 99.585. On the upside, a break of 99.770, Mar 24 high would instead highlight a bullish theme and signal scope for a climb towards 99.835, Dec 23 high and 99.840, Nov 23/24 high.