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Firmer On Tuesday, Midterms On Deck

AUSSIE 10-YEAR TECHS

(Z2) Primary Trend Direction Remains Down

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USDCAD TECHS
  • RES 4: 1.3500 Round number resistance
  • RES 3: 1.3462 1.618 proj of the Aug 25 - Sep 7 - 13 price swing
  • RES 2: 1.3421 High Sep 30 2020
  • RES 1: 1.3354/3409 High Sep 20 / 2.0% 10-dma envelope
  • PRICE: 1.3348 @ 17:36 BST Sep 20
  • SUP 1: 1.3224 High Jul 14 and recent breakout level
  • SUP 2: 1.3107/2954 20-day EMA / Low Sep 13
  • SUP 3: 1.2895 Low Aug 25 and key near-term support
  • SUP 4: 1.2828 Low Aug 17

USDCAD traded again Tuesday, resuming the rally that started Sep 13. The pullback from Monday’s high was confirmed as corrective. The recent break of 1.3224, Jul 14 high and bull trigger, confirms a resumption of the broader uptrend. Attention is on 1.3409 next, the upper band of a moving average envelope. Note that moving average studies are in a bull mode set-up, highlighting positive market sentiment. Key trend support is at 1.2954.

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  • RES 4: 1.3500 Round number resistance
  • RES 3: 1.3462 1.618 proj of the Aug 25 - Sep 7 - 13 price swing
  • RES 2: 1.3421 High Sep 30 2020
  • RES 1: 1.3354/3409 High Sep 20 / 2.0% 10-dma envelope
  • PRICE: 1.3348 @ 17:36 BST Sep 20
  • SUP 1: 1.3224 High Jul 14 and recent breakout level
  • SUP 2: 1.3107/2954 20-day EMA / Low Sep 13
  • SUP 3: 1.2895 Low Aug 25 and key near-term support
  • SUP 4: 1.2828 Low Aug 17

USDCAD traded again Tuesday, resuming the rally that started Sep 13. The pullback from Monday’s high was confirmed as corrective. The recent break of 1.3224, Jul 14 high and bull trigger, confirms a resumption of the broader uptrend. Attention is on 1.3409 next, the upper band of a moving average envelope. Note that moving average studies are in a bull mode set-up, highlighting positive market sentiment. Key trend support is at 1.2954.