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USDCAD TECHS

Approaching Major Support

US TSYS SUMMARY

Inflation Concerns Underpin Bear Steepening

AUDUSD TECHS

Bullish Theme

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  • RES 4: 1.2763 High Feb 12
  • RES 3: 1.2749 High Feb 26 and key resistance
  • RES 2: 1.2700 High Mar 8
  • RES 1: 1.2647 High Mar 30 and the short-term bull trigger
  • PRICE: 1.2535 @ 17:51 GMT Apr 9
  • SUP 1: 1.2502 Low Apr 5 and key near-term support
  • SUP 2: 1.2462 Low Mar 19
  • SUP 3: 1.2365 Low Mar 18 and the bear trigger
  • SUP 4: 1.2336 1.00 proj of the Jan 28 - Feb 25 - Feb 26 price swing

The USDCAD outlook remains bullish following the recent recovery from 1.2502, Apr 5 low. Short-term trend signals point north and attention is on resistance at 1.2647, Mar 30 high and the bull trigger. A break would confirm a resumption of the recovery that started Mar 18 and would open 1.2749, Feb 26 high. Key near-term support is 1.2502. A breach would instead signal a resumption of bearish activity.