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USDCAD Resisting Modest Broader USD Weakness


Price Signal Summary: USDCLP Heading South


Europe push through the lows, while US holds


BLOCK, Large 2Y Buy

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Testing Channel Top: *RES 4:....>

EURO-STERLING TECHS: Testing Channel Top:
*RES 4: 0.9015 High Sep 9
*RES 3: 0.8975 High Sep 13
*RES 2: 0.8969 100-dma
*RES 1: 0.8937 High Oct 1
*PRICE: 0.8902 @ 15:53 GMT Oct 2
*SUP 1: 0.8832 Low Sep 30
*SUP 2: 0.8803 Low Sep 25
*SUP 3: 0.8787 Low Sep 19 and bear trigger
*SUP 4: 0.8772 Low May 22
EURGBP is (slightly) firmer Wednesday testing the top of the broad channel drawn
off the Aug 12 high, that intersects at 0.8918. With the channel top probed
yesterday, today's focus is on whether the cross can clear yesterday's high of
0.8937. This would confirm a breakout of the channel. If achieved, it would also
signal a trend reversal and open the 100 dma at 0.8969 initially and resistance
at 0.8975, Sep 13 high would be exposed too. Support lies at 0.8832, Sep 30 low.
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