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USDCAD TECHS

Still Vulnerable

AUDUSD TECHS

Bullish Price Sequence

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  • RES 4: $1844.9 - Low Jun 14
  • RES 3: $1834.1 - High Jul 15 and the bull trigger
  • RES 2: $1808.7 - High Sep 14
  • RES 1: $1781.8 - Low Sep 14
  • PRICE: $1763.2 @ 07:09 BST Sep 17
  • SUP 1: $1745.3 - Low Sep 16
  • SUP 2: $1724.5 - 76.4% retracement of the Aug 9 - Sep 3 rally
  • SUP 3: $1690.6 - Low Aug 08 and the bear trigger
  • SUP 4: $1678.00 Low Mar 31

Gold traded sharply lower yesterday. The move lower resulted in a break of support at $1774.5, Aug 19 low and a test of $1745.4, 61.8% retracement of the Aug 9 - Sep 3 rally . Further out, a deeper decline would open the key support at $1690.6, Aug 9 low. On the upside, initial firm resistance has been defined at $1808.7, Sep 14 high. A break of this level is required to ease bearish pressure.