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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: 133-23 High Mar 2
  • RES 3: 132-31/133-00+ 50-day EMA / High Mar 11
  • RES 2: 132-09+High Mar 25
  • RES 1: 132-03 High Apr 8
  • PRICE: 131-16+ @ 11:55 BST Apr 13
  • SUP 1: 131-03+Low Apr 6
  • SUP 2: 130-25+Low Apr 5 and the bear trigger
  • SUP 3: 130-14+/07 Lower 3.0% Bollinger Band / Low Feb 2, 2020
  • SUP 4: 129-19 Low Jan 24, 2020 (cont)

US 10y futures remain below resistance at 132-03, Apr 8 high. The broader outlook remains bearish and recent gains are considered corrective. The contract resumed its downleg Mar 30, breaking 131-00, Mar 18 low. This opens 130-07 and the 130-00 handle. The move lower maintains the bearish sequence of lower lows and lower high, reinforcing current sentiment. A break of 132-09+, Mar 25 high would signal scope for a stronger correction.