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USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

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  • RES 4: 1.2648 High Oct 6
  • RES 3: 1.2544 50-day EMA
  • RES 2: 1.2494 Low Sep 3 and a recent breakout level
  • RES 1: 1.2410 High Oct 18
  • PRICE: 1.2351 @ 06:50 BST Oct 22
  • SUP 1: 1.2288 Low Oct 21
  • SUP 2: 1.2253 Low Jun 23
  • SUP 3: 1.2229 76.4% retracement of the Jun - Aug rally
  • SUP 4: 1.2157 Low Jun 16

USDCAD is consolidating. The pair remains in a bear cycle and trend signals highlight potential for an extension lower. A bearish theme follows the recent break of the Jul 30 low of 1.2422. This has opened 1.2253 next, the Jun 23 low. Note too that moving average conditions remain in a bear mode, reinforcing current trend conditions. Initial firm resistance is seen at 1.2494, Sep 3 low. A break would ease bearish pressure.