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BOBL TECHS

(U1) Bullish Theme Dominates

BUND TECHS

(U1) Trend Conditions Remain Bullish

ASIA FX

Most Asia EM FX Higher As Greenback Retreats

GOLD

Struggling To Make A Decisive Move

FOREX

Risk Aversion Bolsters Yen

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  • RES 4: 1.2973 1.500 proj of Jun 1 - 21- 23 price swing
  • RES 3: 1.2916 1.382 proj of Jun 1 - 21- 23 price swing
  • RES 2: 1.2881 High Jan 28
  • RES 1: 1.2807/46 High Jul 19 / 1.236 proj of Jun 1 - 21- 23 swing
  • PRICE: 1.2556 @ 17:21 BST Jul 21
  • SUP 1: 1.2526 Low Jul 21
  • SUP 2: 1.2502/2428 Low Jul 15 / Low Jul 14
  • SUP 3: 1.2303/2253 Low Jul 6 / Low Jun 23 and a key support
  • SUP 4: 1.2157 Low Jun 16

USDCAD ebbed lower Wednesday, running counter to the recent uptrend. Nonetheless, the medium-term outlook remains firm following Monday's strong gains. The pair last week breached resistance at 1.2590, Jul 8 high. The break confirmed a resumption of the uptrend and Monday's strong rally has reinforced bullish conditions, confirming an extension of the bull cycle that started Jun 1. The focus is on 1.2846 next, a Fibonacci projection and 1.2881, the Jan 28 high. On the downside, initial support is at 1.2502.