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USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

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  • RES 4: 1.3983 High Jul 30
  • RES 3: 1.3958 High Aug 4
  • RES 2: 1.3913 High Sep 14 and a key resistance
  • RES 1: 1.3854 High Sep 15
  • PRICE: 1.3805 @ 15:38 BST Oct 20
  • SUP 1: 1.3709/3670 Low Oct 18 / 20-day EMA
  • SUP 2: 1.3544/3412 Low Oct 6 / Low Sep 29 and the bear trigger
  • SUP 3: 1.3387 2.0% 10-dma envelope
  • SUP 4: 1.3354 Low Dec 23, 2020

GBPUSD traded firmer Tuesday extending the rally that started late September. Early Wednesday trade was more negative, but the pair recouped losses to finish broadly flat. The pair has moved above the 50-day EMA and Tuesday's technical break was a breach of 1.3795, 76.4% of the Sep 14 -29 downleg. The break higher opens 1.3913, Sep 14 high. On the downside, a firm short-term support has been defined at 1.3544, Oct 6 low. Initial support is at 1.3709/3670.