US TSYS: Yields Pull Back Again With Consumer Growth Story In Question

• TRUDEAU SAYS CANADA WILL RESPOND FORCEFULLY TO US TARIFFS

• RES 4: 0.6429 High Dec 12
• RES 3: 0.6384 High Dec 13               
• RES 2: 0.6302/51 High Jan 650-day EMA   
• RES 1: 0.6236/47 20-day EMA / High Jan 15
• PRICE: 0.6230 @ 20:53 GMT Jan 15 
• SUP 1: 0.6131 Low Jan 13   
• SUP 3: 0.6100 Round number support
• SUP 3: 0.6045 1.500 proj of the Sep 30 - Nov 6 - 7 price swing
• SUP 4: 0.5994 1.618proj of the Sep 30 - Nov 6 - 7 price swing

A bearish trend condition in AUDUSD remains intact and the latest recovery is considered corrective. The pair has recently breached support at 0.6179, the Dec 31 low, maintaining the price sequence of lower lows and lower highs. Note that moving average studies are in a bear-mode position too. Scope is seen for an extension towards the 0.6100 handle next. Initial firm resistance is 0.6236, 20-day EMA (pierced). The 50-day EMA is at 0.6351.

• RES 3: 147.74 - High Jan 15 and bull trigger (cont)
• RES 2: 146.53 - High Aug 6 
• RES 1: 142.73/144.48 - High Dec 9 / High Nov 11  
• PRICE: 140.92 @ 20:34 GMT Jan 15
• SUP 1: 140-00 - Round number support
• SUP 2: 139.38 - 2.764 proj of the Aug 6 - Sep 3 - 9 price swing
• SUP 3: 138.87- 3.000 proj of the Aug 6 - Sep 3 - 9 price swing    

A clear downtrend in JGB futures remains intact and the latest fresh cycle lows reinforce this condition. Note too that moving average studies on the continuation chart are in a bear-mode setup, highlighting a clear downtrend. The move down exposes the 140.00 psychological handle next. For bulls, a reversal would open 142.73 and 144.48, the Dec 9 and Nov 11 high respectively. For now,short-term gains are considered corrective.