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GBPUSD TECHS

Eyeing Key Resistance

EURUSD TECHS

Maintains A Bullish Tone

(H1) Remains Soft

SOY TECHS
  • RES 4: $1508.56 - 2.236 proj of Oct 29 - Nov 25 rally from Dec 2 low
  • RES 3: $1470.00 - 2.00 proj of Oct 29 - Nov 25 rally from Dec 2 low
  • RES 2: $1436.50 - High Jan 19
  • RES 1: $1387.00 - Jan 21 high
  • PRICE: $1308.25 @ 12:44 GMT Jan 25
  • SUP 1: $1298.00 - Intraday low
  • SUP 2: $1280.00 - Dec 30 low
  • SUP 3: $1256.00 - 50-day EMA
  • SUP 4: $1246.25 - Low Dec 29

Soybean futures remain soft following last week's sell-off that also saw price trade through the 20-day EMA. The uptrend has been in overbought territory for some time and current weakness is seen as a corrective pullback that is allowing an overbought condition to unwind. The psychological $1300.00 level has been probed. A clear break would reinforce the current bearish cycle and open $1280.00. Initial resistance is at $1387.00, Jan 21 high.