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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: 1.2243 High Feb 25 and a key resistance
  • RES 3: 1.2197 1.0% 10-dma envelope
  • RES 2: 1.2184 High Feb 26
  • RES 1: 1.2177 Intraday high
  • PRICE: 1.2155 @ 06:08 BST May 10
  • SUP 1: 1.2090 Former trendline resistance drawn off the Jan 6 high
  • SUP 2: 1.2032 0-day EMA
  • SUP 3: 1.1986 Low May 5 and key short-term support
  • SUP 4: 1.1943 Low Apr 19

EURUSD rallied Friday and cleared resistance at 1.2150 in the process. The breach negates recent bearish threats and instead confirms a resumption of the uptrend that started Mar 31. The move higher has also resulted in the pair trading above the trendline resistance drawn off the Jan 6 high. Moving average conditions support a bullish theme too. The focus is on 1.2184, Feb 26 high and 1.2243, Feb 25 high. Initial support is at 1.2090.