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Seeing downside continuation

USD
  • USD remains offered since the European Govie open, taking its cue from the bid in European Equities, with Bank stocks leading, after HSBC beat expectations.
  • Bank stocks are up 1.85% in the Stoxx600.
  • USD is at session low against GBP, THB, INR, PHP, AUD, CAD, NZD, and recovering from the low versus the Yen.
  • Cable resistance is at 1.2245 High Jul 29.
  • USDCAD test immediate support at 1.2788 61.8% retracement of the Jun 8 - Jul 14 upleg.
  • Below the latter, opens to 1.2763 Low Jun 13.

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