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USDCAD TECHS

Still Looking For Gains

AUDUSD TECHS

Remains Vulnerable

EURJPY TECHS

Recent Highs Remain Intact

USDJPY TECHS

Holding Onto Gains

EURGBP TECHS

Bearish Risk

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  • RES 4: $572.00 - 50.0% retracement of the 2012 - 2020 downtrend
  • RES 3: $555.25 - 3.236 proj of Oct 29 - Nov 30 from Dec 2 low
  • RES 2: $545.00 - 3.00 proj of Oct 29 - Nov 30 from Dec 2 low
  • RES 1: $541.50 - High Jan 13 and the bull trigger
  • PRICE: $518.75 @ 13:40 GMT Jan 22
  • SUP 1: $512.75 - Low Jan 20
  • SUP 2: $500.00 - Psychological round number
  • SUP 3: $487.25 - Jan 7 low
  • SUP 4: $479.50 - Low Jan 4

Corn futures remain bullish. The uptrend accelerated Jan 12 and the contract gapped higher Jan 13. The fact that the trend is in overbought territory has not proved so far, to be a concern for bulls. Price is trading below recent highs however a deeper pullback is required to suggest the start of a correction. On the upside, clearance of $541.50 would resume the uptrend and expose $572.00.