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JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

USDCAD TECHS

Clearing Major Support

AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

Momentum Fading

AUSSIE TECHS
  • RES 4: 0.7388 2.00 projection of Mar 19 - 31 rally from Apr 3 low
  • RES 3: 0.7295 High Jan 2019
  • RES 2: 0.7284 High Feb 2019
  • RES 1: 0.7241/43 High Aug 5 / 7
  • PRICE: 0.7170 @ 04:38 BST Aug 13
  • SUP 1: 0.7077 Low Aug 3
  • SUP 2: 0.7064 Low Jul 24 and key near-term trend support
  • SUP 3: 0.7010 Low Jul 21
  • SUP 4: 0.6963 Low Jul 16

Prices topped out at 0.7243 last week and have faded since. This move has relieved some of the signs of bullish exhaustion evident in the still high RSI, which has withdrawn back to normal levels. The move above 0.7227 opened a further leg higher, which eyes levels not seen since early 2019. Bulls look to 0.7284 and 0.7295 for direction. On the downside, key near-term trend support has been defined at 0.7064, Jul 24 low. A fall through here would be a bearish development.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com