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USDCAD TECHS

Bullish Price Structure Intact

AUDUSD TECHS

Needle Points South

US TSY OPTIONS

BLOCK, Huge 5Y Put Buy

EURJPY TECHS

Probes The Bear Trigger

USDJPY TECHS

Range Base Holds Firm

TECHS: Bearish Price Sequence Intact

DOLLAR-CANADA
  • RES 4: 1.3347 High Aug 12
  • RES 3: 1.3306 20-day EMA
  • RES 2: 1.3272 High Aug 14 and key near-term resistance
  • RES 1: 1.3245 High Aug 20
  • PRICE: 1.3199 @ 17:25 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 last week extended its move lower printing fresh cycle lows at 1.3133 on Aug 19. The current 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.