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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: 133.31/69 Bull channel top / 2.0% 10-dma envelope
  • RES 3: 133.13 High Sep 21, 2018 and a key resistance
  • RES 2: 132.68 High Sep 27, 2018
  • RES 1: 132 36/37 2.236 of Jun-Sep-Oct 2020 swing/High Apr 29
  • PRICE: 131.39 @ 16:54 BST May 4
  • SUP 1: 130.97 High Apr 20 and recent breakout level
  • SUP 2: 130.70 20-day EMA
  • SUP 3: 130.57 Low Apr 27
  • SUP 4: 129.80 Bull channel base drawn off the Oct 30, 2020 low

EURJPY is consolidating but maintains a bullish focus following last week's gains. The cross has cleared 130.97, Apr 20 high and the focus is on 132.36, a Fibonacci projection. This level has recently been tested and a break would signal scope for an extension higher, as the cross appreciates within its bull channel, drawn off the Oct 30 2020 low. Moving average studies are in a bull mode reinforcing current conditions. Support is at 130.57.