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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

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  • RES 4: 0.8624 High Oct 1
  • RES 3: 0.8595 High Nov 5 and a key resistance
  • RES 2: 0.8574 High Nov 11
  • RES 1: 0.8544 76.4 retracement of the Nov 5 - 22 sell-off
  • PRICE: 0.8495 @ 06:21 GMT Dec 3
  • SUP 1: 0.8473 20-day EMA
  • SUP 2: 0.8411/8381 Low Nov 26 / Low Nov 22
  • SUP 3: 0.8356 Low Feb 26, 2020
  • SUP 4: 0.8339 Low Feb 25, 2020

EURGBP continues to trade closer to recent highs despite yesterday’s pullback. Recent gains are still considered corrective though. Trend conditions are bearish and the focus is on 0.8356 next, Feb 26, 2020 low. The next resistance to watch however is 0.8544, a Fibonacci retracement. A break would suggest scope for a stronger recovery and expose 0.8574 initially, the Nov 11 high. First support to watch is 0.8471.