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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

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  • RES 4: 1.2949 High Aug 20 and a key resistance
  • RES 3: 1.2896/2939 / High Sep 20 / 2.0% 10-dma envelope
  • RES 2: 1.2849 High Sep 21
  • RES 1: 1.2837 High Nov 30
  • PRICE: 1.2811 @ 16:26 GMT Dec 2
  • SUP 1: 1.2714/2641 Low Dec 1 / Low Nov 25
  • SUP 2: 1.2600/2493 20-day EMA / Low Nov 16
  • SUP 3: 1.2387 Low Nov 10
  • SUP 4: 1.2288 Low Oct 21 and the bear trigger

The USDCAD trend needle continues to point north. Price has recently cleared 1.2753, 76.4% of the Sep 20 - Oct 21 sell-off as well as 1.2775, Sep 29 high. This has strengthened the current bullish set-up and signals scope for a climb towards 1.2896 next, the Sep 20 high. On the downside, a key short-term support has been defined at 1.2641, Nov 25 low. A break of this level would threaten the current trend.