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CORN TECHS

(H2) Rebound Extends

US EURODLR OPTIONS

Put-Centric, Rate-Hike Positioning

EQUITY TECHS

E-MINI S&P (H2): Bearish Risk Remains Present

SOUTH AFRICA

Market Snapshot: ZAR on a Tear, SAGBs Bull Flatten

GBP

EURGBP test session low

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  • RES 4: 0.7284 Former channel base drawn from the Aug 20 low
  • RES 3: 0.7209 High Nov 25
  • RES 2: 0.7187 20-day EMA
  • RES 1: 0.7170 High Dec 8
  • PRICE: 0.7167 @ 16:35 GMT Dec 8
  • SUP 1: 0.7040/6991 Low Dec 7 / Low Nov 2 2020 and a key support
  • SUP 2: 0.6963 Low Jul 16 2020
  • SUP 3: 0.6921 Low Jul 14 2020
  • SUP 4: 0.6759 50% 2020 - 2021 Rally

This week’s bounce in AUDUSD has extended and the pair is back above the 0.7100 handle. The move higher signals scope for a climb towards 0.7187, the 20-day EMA. A clear breach of this average would strengthen the current bull phase. The broader trend condition is bearish though. A reversal lower would refocus attention on 0.6991, Nov 2 low and the bear trigger. Clearance of this level would confirm a resumption of the downtrend.