SILVER TECHS: Tests Support Around The 50-Day EMA
- RES 4: $35.736 - 1.236 proj of the Feb 14 - Apr 12 - May 2 ‘24 swing
- RES 3: $34.903 - High Oct 23 and the bull trigger
- RES 2: $34.000 - Round number resistance
- RES 1: $33.450 - 76.4% of the Oct 23 - Dec 19 ‘24 bear leg
- PRICE: $31.743 @ 08:10 GMT Feb 27
- SUP 1: $31.290 - Low Feb 25
- SUP 2: $30.691/29.704 - Low Feb 3 / Low Jan 27
- SUP 3: $28.748 - Low Dec 19 and bear trigger
- SUP 4: $28.446 - 76.4% retracement of the Aug 8 - Oct 23 bull cycle
Silver traded sharply lower Tuesday and in the process breached the 20-day EMA and pierced $31.414, the 50-day EMA. The move down - for now - appears corrective, however, a clear break of the 50-day average, would signal scope for a deeper retracement. This would open $30.691, the Feb 3 low. On the upside, the short-term bull trigger has been defined at $33.397, the Feb 14 high. Clearance of this level would resume the uptrend.
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USDCAD TECHS: Key Directional Triggers Defined
- RES 4: 1.4654 2.0% 10-dma envelope
- RES 3: 1.4564 3.500 proj of the Oct 17 - Nov 1 - 6 price swing
- RES 2: 1.4539 3.382 proj of the Oct 17 - Nov 1 - 6 price swing
- RES 1: 1.4516 High Jan 21
- PRICE: 1.4404 @ 08:06 GMT Jan 28
- SUP 1: 1.4261 Low Jan 20
- SUP 2: 1.4253 50-day EMA
- SUP 3: 1.4120 Low Dec 11
- SUP 4: 1.4011 Low Dec 5
USDCAD is trading inside a range. Recent price action highlights resistance at 1.4516, the Jan 21 low, and support at 1.4261, the Jan 20 low. Both levels represent important short-term directional triggers. The trend condition is bullish and a clear breach of 1.4516 would confirm a resumption of the bull cycle. For bears, a move through 1.4261 and 1.4253, the 50-day EMA, would instead highlight a possible reversal.
EGB SYNDICATION: Austria dual-tranche mandate: Books open
New 10-year Feb-35 RAGB
- Guidance: MS+51bps area
- Size: EUR benchmark (MNI expects E4.5-5.0bln including E250-500mln retention)
- Maturity: 20 February 2035
- Coupon: Long first
- ISIN: AT0000A3HU25
1.85% May-49 Green RAGB tap
- Guidance: MS+80bps area
- Size: EUR benchmark (MNI expects E1.0-2.0bln)
- ISIN: AT0000A2T8G4
For both:
- JLMs: BofA Securities, Deutsche Bank, Erste Group, J.P. Morgan, Morgan Stanley and Raiffeisen Bank International
- Timing: Books open, today's business
From market source
AUDUSD TECHS: Resistance At The 50-Day EMA Holds Firm
- RES 4: 0.6441 38.2% retracement of the Sep 30 - Jan 13 downleg
- RES 3: 0.6429 High Dec 12
- RES 2: 0.6384 High Dec 13
- RES 1: 0.6325/6331 50-day EMA / High Jan 24
- PRICE: 0.6252 @ 07:58 GMT Jan 28
- SUP 1: 0.6209 Low Jan 21
- SUP 3: 0.6165/31 Low Jan 17 / 13 and the bear trigger
- SUP 3: 0.6100 Round number support
- SUP 4: 0.6045 1.500 proj of the Sep 30 - Nov 6 - 7 price swing
A medium-term bearish trend condition in AUDUSD remains intact and recent gains have stalled at resistance around the 50-day EMA, at 0.6325. The reversal lower suggests the possible end of the correction between Jan 13 - 24. A continuation lower would open 0.6131, the Jan 13 low and the bear trigger. On the upside, a clear breach of the 50-day average is required to signal scope for a stronger recovery.
