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AUSSIE BONDS

Steeper Overnight

NZD

Kiwi Starts The Week On The Back Foot

AUD

RBA Minutes In Focus

New Multi-Month Low

DOLLAR-CANADA
  • RES 4: 1.3646 High Jul 14 and key S/T resistance
  • RES 3: 1.3484/3600 50-day EMA / High Jul 20
  • RES 2: 1.3537 High Jul 21
  • RES 1: 1.3460/91 High Jul 30 / Low Jul 9
  • PRICE: 1.3230 @ 04:54 BST Aug 14
  • SUP 1: 1.3192 Low Aug 13
  • SUP 2: 1.3123 3.0% Lower Bollinger Band
  • SUP 3: 1.3057 61.8% 2017 - 2020 Rally
  • SUP 4: 1.3036 2.0% 10-dma envelope
Prices printed a new multi-month low early Thursday at 1.3192, extending the sell-off after breaking below the Jun 10 low bear trigger of 1.3316 last week. This develops the downside theme and raises the likelihood of a test of the Dec 31 2019 low at 1.2952. The next key support rests at 1.3057, the 61.8% Fib retracement of the 2017 - 2020 Rally. The formation of a so-called 'Death Cross' (50-dma < 200-dma) has worsened the outlook. Resistance remains at 1.3491, Jul 24 high.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com