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USDCAD TECHS

Still Vulnerable

AUDUSD TECHS

Bullish Price Sequence

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  • RES 4: 155.14 High Aug 31
  • RES 3: 154.64 High Sep 22 / 23
  • RES 2: 153.59 High Sep 24
  • RES 1: 152.54/87 High Oct 14 / High Oct 1
  • PRICE: 152.34 @ Close Oct 14
  • SUP 1: 151.00 Low Oct 6 and the bear trigger
  • SUP 2: 150.56 Low Jun 30 (cont)
  • SUP 3: 150.00/149.97 Round number support / Low Jun 25
  • SUP 4: 148.77 61.8% retracement of the May - Aug rally (cont)

BTP futures traded higher yesterday. The trend needle still points south - the contract traded lower Oct 6, confirming a resumption of the downtrend. A price sequence of lower lows and lower highs that defines a downtrend remains intact and the recent move through 152.94, Sep 9 low, confirmed this price condition. Short-term gains would be considered corrective with initial firm resistance at 152.87, Oct 1 high. The bear trigger is 151.00.