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EURGBP TECHS

Reverses Recent Downleg

US TSY OPTIONS

5Y Upside Skew Buy

DOLLAR-CANADA
  • RES 4: 1.3245 High Aug 20 and key intraday resistance
  • RES 3: 1.3218 20-day EMA
  • RES 2: 1.3133 High Aug 28
  • RES 1: 1.3114 High Aug 31
  • PRICE: 1.3006 @ 06:33 BST Sep 1
  • SUP 1: 1.3000 Psychological round number support
  • SUP 2: 1.2976 Low Jan 8
  • SUP 3: 1.2957 Low Jan 7
  • SUP 4: 1.2952 Low Dec 31, 2019 and a major support

USDCAD is under pressure hitting yet another fresh cycle low overnight. Continued selling pressure confirms and reinforces the current downtrend and extends the bearish price sequence of lower lows and lower highs that still dominates. With an extension seen likely, attention is on 1.3000 next and now within touching distance. This is a psychological support. Further out, the focus is on the Dec 31 2019 low of 1.2952. Initial resistance is at 1.3114.

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