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USDCAD TECHS

Still Vulnerable

AUDUSD TECHS

Bullish Price Sequence

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  • RES 4: 110.82 High Jul 7
  • RES 3: 110.80 High Aug 11 and a key resistance
  • RES 2: 110.45/46 High Sep 8 / High Aug 13
  • RES 1: 110.20 High Sep 23
  • PRICE: 110.19 @ 17:11 BST Sep 23
  • SUP 1: 109.11 Low Aug 16 / Sep 15
  • SUP 2: 108.72 Low Aug 04 and the bear trigger
  • SUP 3: 108.56 Low May 25
  • SUP 4: 108.47 76.4% of the Apr 23 - Jul 2 rally

USDJPY traded firmer Wednesday and extended gains into the Thursday close. The outlook is bearish however support at 109.11, Aug 16 / Sep 15 low needs to give way to reinforce this theme. A break would expose 108.72, Aug 4 low and clearance of 108.72 would open 108.47, a Fibonacci retracement and below. For bulls, the level to break is unchanged at 110.80, Aug 11 high. Initial firm resistance is at 110.45/46.