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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: 1.2915 High Dec 23
  • RES 3: 1.2845/81 High Feb 4 / High Jan 28
  • RES 2: 1.2763/42 High Feb 12
  • RES 1: 1.2749 High Feb 26
  • PRICE: 1.2649 @ 06:46 GMT Mar 4
  • SUP 1: 1.2587 Low Feb 26
  • SUP 2: 1.2468/51 Low Feb 25 / Low Feb 16, 2018 Low
  • SUP 3: 1.2376 2.0% 10-dma envelope
  • SUP 4: 1.2276 Trendline Drawn From May 2015 Low

The USDCAD outlook remains unchanged with a firmer S/T tone still in place following the recovery from 1.2468 Feb 25 low. Gains have so far stalled at the 50-day EMA, currently at 1.2732. A clear breach of the average would signal scope for stronger gains towards 1.2881, Jan 28 high. On the downside, a move through 1.2468 would resume bearish pressure towards support drawn off the May 2015 low, a trendline that lies at 1.2276 this week.