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US TSY FUTURES

BLOCK, 5Y Buy

ARGENTINA

May Trade Surplus Narrower Than Estimates

EURJPY TECHS

Attention Is On The Bull Trigger

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Remains Above Tuesday’s Low

USDCAD TECHS
  • RES 4: 1.3116 2.0% 10-dma envelope
  • RES 3: 1.3091 High Nov 24 2020
  • RES 2: 1.3077 High May 16 and the bull trigger
  • RES 1: 1.2896/2982 High May 18 / High May 16
  • PRICE: 1.2787 @ 17:41 BST May 26
  • SUP 1: 1.2767/65 50-day EMA / Low May 24
  • SUP 2: 1.2714 Low May 5 and a key support
  • SUP 3: 1.2568 Low Apr 22
  • SUP 4: 1.2459 Low Apr 21

USDCAD continues to trade closer to its recent lows. The latest move down is considered corrective and the broader trend outlook remains bullish. Recent gains resulted in a breach of 1.2914, May 2 high, and 1.2964, the Dec 20 2021 high. The break of the latter marks an important medium-term bullish development. Key support to watch is at 1.2714, May 5 low. A break would alter the short-term outlook.

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  • RES 4: 1.3116 2.0% 10-dma envelope
  • RES 3: 1.3091 High Nov 24 2020
  • RES 2: 1.3077 High May 16 and the bull trigger
  • RES 1: 1.2896/2982 High May 18 / High May 16
  • PRICE: 1.2787 @ 17:41 BST May 26
  • SUP 1: 1.2767/65 50-day EMA / Low May 24
  • SUP 2: 1.2714 Low May 5 and a key support
  • SUP 3: 1.2568 Low Apr 22
  • SUP 4: 1.2459 Low Apr 21

USDCAD continues to trade closer to its recent lows. The latest move down is considered corrective and the broader trend outlook remains bullish. Recent gains resulted in a breach of 1.2914, May 2 high, and 1.2964, the Dec 20 2021 high. The break of the latter marks an important medium-term bullish development. Key support to watch is at 1.2714, May 5 low. A break would alter the short-term outlook.