Trend Theme： 200-HMA, two-week-old hurdle probe bulls below 1.2700.
Trend Review：USD/CAD picks up bids around 1.2690 while trying to extend the previous day’s upside momentum during the initial Asian session on Wednesday. In doing so, the quote holds above 100-HMA amid the strong RSI conditions. Weekly horizontal support restricts the short-term seller’s entry.
|PP||Resistance*||1.2720 *||1.2758 **||1.2813 ***|
|1.2665||Support*||1.2627 *||1.2572 **||1.2535 ***|
Trend Theme：USD/JPY surges to fresh five-month highs above 106.00.
Trend Review：USD/JPY shot to the upside on Tuesday, driven primarily by a significant widening of US/Japanese rate differentials. USD/JPY closed Tuesday FX trade 0.6% or nearly 70 pips higher. Looking ahead, Japanese trade data from January will be released at 23:50GMT, but is unlikely to impact USD/JPY too much, with traders more focused on movements in the US bond market.
|PP||Resistance*||106.20 *||106.48 **||106.98 ***|
|105.69||Support*||105.41 *||104.90 **||104.63 ***|
Trend Theme：WTI struggles to keep $60.00 even as deep freeze cuts US oil output by a third, API data eyed.
Trend Review：WTI eases from the late Tuesday’s top surrounding $60.30, currently around $60.15, while trying to extend recovery moves to Wednesday’s Asian session. In doing so, the black gold battles the US dollar gains and supply outage from Texas.
|PP||Resistance*||60.58 *||60.92 **||61.53 ***|
|59.96||Support*||59.62 *||59.01 **||58.67 ***|
Trend Theme：Gold stays depressed below $1,800, eyes US Treasury yields.
Trend Review：Gold remains on the back foot around $1,795, failing to defy the heaviest losses in two weeks, amid the initial Asian session on Wednesday. Risk-on mood gain momentum with the American covid relief package eyed by March 08.
|PP||Resistance*||1818.05 *||1840.79 **||1855.05 ***|
|1803.79||Support*||1781.05 *||1766.79 **||1744.05 ***|