CAD ATTEMPTS RESILIENCY in the face of softer than expected Canadian June annual CPI at 1.0% from Mays 1.4%, with annual core slipping to 1.7% from 1.8%. Not enough risk aversion is occurring for USDCAD to break above the Jul 20 trend line resistance of 1.0450 just as yesterdays 1 June trend lien support of 1.3440s held. OILs POWERFUL breach of the 100 and 200day MAs in a single day to $79 continues to support loonie. USDCAD daily chart is INCREASINGLY SYMMETRICAL, suggesting that risks of an upside/ downside breakout are balanced. 1.0355-60 remains strongly underpinned for now, attracting buyers as US equity indices approach their 200-day MAs. AUDUSD nearing its 200-day MA at 0.8970s, which is also 3-mth TL resistance. Beware of outstretched gains in the midst of remaining concerns from global central banks. More frequent coverage on stress tests is found on twitter at http://twitter.com/alaidi
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