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CORN TECHS

(N1) Needle Still Points North

SOY TECHS

(N1) Bullish Theme

COPPER TECHS

(K1) Breaks Out Of Its Recent Range

OPTIONS

Larger FX Option Pipeline

USD

Greenback Weakness Resumes into NY Hours

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  • RES 4: 0.8164 High May 15, 2015
  • RES 3: 0.8136 High Jan 2018 and Major Resistance
  • RES 2: 0.8007 High Feb 25 and the bull trigger
  • RES 1: 0.7883 High Feb 26
  • PRICE: 0.7798 @ 06:42 GMT Mar 4
  • SUP 1: 0.7704/7693 50-day EMA / Low Feb 26
  • SUP 2: 0.7651 Low Feb 8
  • SUP 3: 0.7583/64 Low Feb 5 / Low Feb 2 and the bear trigger
  • SUP 4: 0.7557 Low Dec 28

Despite this week's recovery, AUDUSD remains vulnerable following last week's sharp sell-off from 0.8007, Feb 25 high. Price action has so far managed to find support at the 50-day EMA that intersects at 0.7704. A clear break of the average would signal scope for a deeper pullback and open 0.7600 and potentially below. Initial resistance is at 0.7883, Feb 26 high with the bull trigger for a resumption of gains at 0.8007.