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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

Underperforming

AUSSIE TECHS
  • AUDUSD failed to breach its trendline resistance on Oct 9 and has since pulled back. This failure at the trendline weighs on the pair.
  • Today's sell-off exposes key support at 0.7006, Sep 25 low.
  • A break of 0.7006 would resume the downtrend from Sep 1 and open:
    • 0.6965 23.6% retracement of the Mar - Sep rally and
    • 0.6931 0.764 projection of Sep 1 - 25 sell-off from Oct 9 high
  • EURUSD is firmer this week and attention turns to EURAUD.
  • EURAUD has confirmed a breakout of a broad range it has been trading within since mid-June. Yesterday's clearance of 1.6586 and 1.6593, Jun 12 and Sep 24 highs respectively confirmed the breakout.
  • The breach reverses the downtred between March and June.
  • Calculating range breakout projections, 1.7000 appears on the radar.
  • With EURUSD gains this week reinforcing bullish developments in EURAUD, watch key EURUSD resistance at 1.1831, Oct 9 high.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com