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EQUITIES

Nikkei 225 Outperforms In Asia

GOLD

Away From Thursday's Lows

JGBS

Early Dynamic Prevails

JGBS AUCTION

Japanese MOF sells Y4.0730tn 3-Month Bills:

FOREX

Evergrande Jitters Dampen Risk Recovery

TECHS: Bearish Conditions Intact

DOLLAR-CANADA
  • RES 4: 1.3399 High Aug 7 and key resistance
  • RES 3: 1.3347 High Aug 12
  • RES 2: 1.3306 20-day EMA
  • RES 1: 1.3272 High Aug 14 and key resistance
  • PRICE: 1.3163 @ 06:11 BST Aug 21
  • SUP 1: 1.3133/19 Low Aug 19 / Low Jan 24
  • SUP 2: 1.3071 3.0% Lower Bollinger Band
  • SUP 3: 1.3057 61.8% retracement of the 2017 - 2020 rally
  • SUP 4: 1.1.2991 2.0% 10-dma envelope

USDCAD remains bearish. The pair this week extended its downward trajectory printing fresh cycle lows below 1.3200. The downtrend is reinforced by the bearish sequence of lower lows and lower highs that continues to dominate. Scope is seen for a move towards 1.3119, Jan 24 low and 1.3057, a Fibonacci retracement. Further out, the focus is on the Dec 31 2019 low of 1.2952. Key near-term resistance is at 1.3272, Aug 14 high.