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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: 0.8007 High Feb 25 and the bull trigger
  • RES 3: 0.7883 High Feb 26
  • RES 2: 0.7838 High Mar 2 and 3
  • RES 1: 0.7759 20-day EMA
  • PRICE: 0.7662 @ 06:41 GMT Mar 9
  • SUP 1: 0.7621 Intraday low
  • SUP 2: 0.7583/64 Low Feb 5 / Low Feb 2 and the bear trigger
  • SUP 3: 0.7557/55 Low Dec 28 / 3.0% 10-dma envelope
  • SUP 4: 0.7517 Low Dec 22

AUDUSD is weak and remains vulnerable following the sharp sell-off from 0.8007, Feb 25 high. Last week's sell-off reinforced bearish conditions which saw prices fall through 0.7693, Feb 26 low. This signals scope for a stronger bear leg and opens 0.7564, Feb 2 low. Firm short-term resistance has been defined at 0.7838, high Mar 2 and 3. A break would allow for a stronger short-term rally.