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USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

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  • RES 4: $502.60 - 2.00 proj of Aug 19 - Sep 13 - Sep 21 price swing
  • RES 3: $500.00 - Psychological round number
  • RES 2: $490.68 - 1.764 proj of Aug 19 - Sep 13 - Sep 21 price swing
  • RES 1: $482.30/87.05 - High Oct 18 / High May 10 and the bull trigger
  • PRICE: $442.10 @ 13:30 BST Oct 26
  • SUP 1: $438.40/432.43 - 50-day EMA / 61.8% of Sep 21 - Oct 18 rally
  • SUP 2: $420.65 - 76.4% retracement of the Sep 21 - Oct 18 rally
  • SUP 3: $411.40 - Low Oct 6
  • SUP 4: $405.45/401.60 - Low Sep 30 / Low Sep 21

Copper continues to trend lower as the pullback that started Oct 18 extends. Futures have traded through the 20-day EMA and sights are on the 50-day EMA that intersects at 438.40. A break of the 50-day average woud signal scope for a deeper pullback and this would open 432.43, 61.8% retracement of the Sep 21 - Oct 18 rally. The 76.4% level is at 420.65. Initial key resistance is at 482.30, Oct 18 high.