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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: $26.002 - High Aug 4
  • RES 3: $25.690 - 50.0% retracement of the May - Aug sell-off
  • RES 2: $25.206 - High Jun 8
  • RES 1: $24.967 - 38.2% retracement of the May - Aug sell-off
  • PRICE: $24.788 @ 07:30 BST Sep 6
  • SUP 1: $23.758 - Low Sep 1
  • SUP 2: $23.346 - Low Aug 27
  • SUP 3: $22.878/626 - Low Aug 20 / Low Aug 09 and the bear trigger
  • SUP 4: $21.899 - Low Nov 30, 2020

Silver traded higher Friday, extending recent gains and its corrective bounce. The metal has cleared the 20-day EMA and is testing its 50-day EMA. A clear breach of this EMA, would strengthen the short-term bullish theme and open $24.967 next, a Fibonacci retracement. On the downside, initial firm support has been defined at $23.758, Sep 1 low where a break is required to instead signal a resumption of bearish activity.