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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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  • RES 4: 0.8840 High Feb 4
  • RES 3: 0.8791/8857 High Feb 12 / 2.0% 10-dma envelope
  • RES 2: 0.8731 High Feb 26
  • RES 1: 0.8721 High Apr 26
  • PRICE: 0.8686 @ 15:42 BST May 6
  • SUP 1: 0.8624 Low May 5
  • SUP 2: 0.8589 Low Apr 19 and a key support
  • SUP 3: 0.8472 Low Apr 5 and the bear trigger
  • SUP 4: 0.8430 Low Feb 27, 2020

EURGBP bounced throughout Thursday hours, countering some of the weakness seen earlier in the week. Nonetheless, next resistance remains in tact at 0.8721. The recovery from 0.8589, Apr 19 low signals scope for an extension higher and a clear breach of 0.8719 would confirm a resumption of the uptrend that started Apr 4. This would open 0.8731, Feb 26 high and 0.8762, a retracement. Key support is at 0.8589. A break would be bearish.