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USDCAD TECHS

Tests Major Support - The 2017 Low!

SILVER TECHS

Bulls Still In Charge

GOLD TECHS

Fades Through Thursday

EUROSTOXX50 TECHS

(M1) Bounces Off Lows

BRENT TECHS

(N1) Falls Back Into Range

AUDUSD TECHS

Fresh Weekly Lows

Stable Near The Week’s Lows

EURO-DOLLAR TECHS
  • RES 4: 1.2028 2.0% 10-dma envelope
  • RES 3: 1.2000 Psychological round number
  • RES 2: 1.1978 1.236 proj of May 7 - Jun 10 rally from Jun 19 low
  • RES 1: 1.1916 High Aug 6
  • PRICE: 1.1722 @ 04:56 BST Aug 12
  • SUP 1: 1.1696 Low Aug 3
  • SUP 2: 1.1680/1639 20-day EMA / Low Jul 27
  • SUP 3: 1.1581 Low Jul 24
  • SUP 4: 1.1541 Low Jul 23

The pair traded softer into the Friday close, inching further from the 1.1916 high. The weak Friday close makes a period of consolidation more likely, with bulls needing to secure a close above 1.19 to reignite any uptrend. Momentum indicators were flashing overbought consistently across last week, and a longer pause may relieve some of this pressure. The technical outlook deteriorates below 1.1696. Any persistent move higher will focus on the psychological 1.2000 handle.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com