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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

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'Big Tech' Bill Goes To Senate

COMMODITIES

Oil Up For Fifth Week On Supply Disruption, Geopolitics

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  • RES 3: 99.795 - High Aug 20 (cont)
  • RES 2: 99.300 - High Oct 14/15
  • RES 1: 99.120 - High Oct 19 and key near-term resistance
  • PRICE: 98.955 @ 16:39 GMT Dec 06
  • SUP 1: 98.540 - Low Oct 29
  • SUP 2: 98.510 - 61.8% 2018 - 2020 Range
  • SUP 3: 97.957 - 1.0% 10-dma envelope

Aussie 3yr futures traded solidly Friday, but held inside the week’s range. On Tuesday, however, prices corrected higher to touch 99.010. The move runs counter to the previously bearish trend, but markets need to top the first resistance at 99.120 to re-engage any rally. This leaves markets eyeing 98.540 Oct 29 low as first support as well as 98.510, the 61.8% level for the 2018-2020 range.