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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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  • RES 4: 133-27 1.50 proj of Apr 29 - May 7 - May 13 price swing
  • RES 3: 133-21 1.0% 10-dma envelope
  • RES 2: 133-11 1.236 proj of Apr 29 - May 7 - May 13 price swing
  • RES 1: 133-06+ Intraday high
  • PRICE: 132-27 @ 15:56 BST Jun 11
  • SUP 1: 132-00+ 20-day EMA
  • SUP 2: 131-18 Low Jun 3 and 4 and key short-term support
  • SUP 3: 131-01/130-31+ Low May 19 / Low May 13
  • SUP 4: 130-23+/17+ Low Apr 29 / Low Apr 13

US 10y futures gave up early gains into the Friday close, but held the bulk of the week's strength. Resistance at 132-20+, May 7 high has been breached. This marked a key S/T hurdle for bulls and the break removes recent bearish concerns and suggests scope for stronger gains. Attention is on the 133-11, a Fibonacci projection. On the downside, key near-term support has been defined at 131-18, the Jun 3, 4 low. Initial support is at 132-00+, the 20-day EMA.