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USDCAD TECHS

Pullback Considered Corrective

EUROZONE ISSUANCE

EGB Supply For W/C Sep 20, 2021: Upcoming

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  • RES 3: 153.20 - 50% Mar'20 - Feb'21 Decline
  • RES 2: 153.02 - High Apr 28 2020
  • RES 1: 152.62 - High Jul 21 and the bull trigger
  • PRICE: 151.76 @ 16:07 BST Sep 14
  • SUP 1: 151.66 - Low Sep 14
  • SUP 2: 151.49 - Low Jun 17
  • SUP 3: 150.88 - Low Apr 1

JGBs continue to ebb, remaining closer to the lower end of the recent range. This works against the previously bullish outlook after topping resistance at the 152.53 Fib retracement (38.2% of the 2020 - 2021 sell-off) a few weeks back. This turns focus to initial support at 151.66, Sep 14 low where a break is required to signal scope for a deeper pullback.