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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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  • RES 4: 1.2414 High Apr 17, 2018
  • RES 3: 1.2349/53 High Jan 6 / High Apr 20, 2018
  • RES 2: 1.2266/85 High May 25 and the bull trigger / High Jan 8
  • RES 1: 1.2218 High Jun 9
  • PRICE: 1.2188 @ 06:02 BST Jun 11
  • SUP 1: 1.2111/2104 50-day EMA / Low Jun 4 and key S/T support
  • SUP 2: 1.2052 Low May 13
  • SUP 3: 1.1986 Low May 5
  • SUP 4: 1.1919 61.8% retracement of the Mar 31 - May 25 rally

EURUSD is unchanged and a near-term bearish risk remains present. This follows a sharp pullback Jun 3 that saw price trade through 1.2133, May 28 low. The break lower highlights potential for a deeper correction and attention remains on the 50-day EMA at 1.2111. The EMA represents a key area of support ahead of 1.2104, the Jun 4 low. On the upside, primary resistance is unchanged at 1.2266, May 25 high.