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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: 172.78 0.764 proj of the Feb 25 - Mar 11 - Mar 18 price swing
  • RES 3: 172.66 High Mar 25
  • RES 2: 172.34 High Mar 29
  • RES 1: 172.12 High Apr 8
  • PRICE: 171.20 @ 05:08 BST Apr 13
  • SUP 1: 171.15 Low Apr 9
  • SUP 2: 170.71/52 Low Mar 30 / Low Mar 18 and key support
  • SUP 3: 170.00 Round number support
  • SUP 4: 169.24 Low Feb 24 and major support

Bund futures remain vulnerable with initial resistance recently defined at 172.12, Apr 8 high. A bearish focus remains intact with attention on key S/T support at 170.52, Mar 18 low. Clearance of this level would strengthen a bearish case and signal scope for a deeper sell-off. The move lower from 172.66, Mar 25 low suggests the recovery between Feb 25 - Mar 25 was a correction and that this correction is possibly over. Bearish!