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USDCAD TECHS

Watching The 50-Day EMA

AUDUSD TECHS

Bearish Focus

MONTH-END EXTENSIONS

Updated Barclays/Bbg Extension Estimates for US

US TSYS

Late Session Selling

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  • RES 4: $27.831 - High Jun 16
  • RES 3: $26.775/27.245 - High Jul 6 and key resistance / High Jun 17
  • RES 2: $26.467 - High Jul 14
  • RES 1: $25.761 - High Jul 19
  • PRICE: $25.171 @ 07:01 BST Jul 20
  • SUP 1: $24.955 - 76.4% retracement of the Mar 31 - May 18 rally
  • SUP 2: $24.686 - Low Apr 13
  • SUP 3: $24.257 - Low Apr 1
  • SUP 4: $23.781 - Low Mar 31and key support

Silver started the week on a softer note trading lower and breaking support at $25.529, the Jun 29 low and bear trigger. The break lower confirms a resumption of the downleg that started May 18. This has exposed $24.955, a Fibonacci retracement and $24.686, Apr 13 low. Moving average studies are in a bear mode and this reinforces the current bearish theme. On the upside, key resistance has been defined at $26.775, Jul 6 high.