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USDCAD TECHS

Clearing Major Support

AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

USDJPY TECHS

Bullish Argument Down, But Not Out

EURGBP TECHS

Attention Is On Resistance

BRAZIL

Equities recovering prompting some LatAm FX strength. USDBRL opens markedly lower (down 1.10%).


It is worth remembering the price action following the removal of the forward guidance. An initially positive reaction in the currency due to a hawkishly perceived Copom was aggressively faded as the swaps curve shifted higher reflecting the risks the economy faces.