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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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  • USDMXN maintains a bullish tone and following yesterday's gains is trading closer to recent highs. Attention is on last week's high of 21.0477, Feb 26 high where a break would signal scope for a climb towards 21.50.
    • Key near-term support has been defined at 20.3504, Feb 24 low and within the area of support highlighted by both the 20- day and 50-day EMAs.
  • USDBRL remains firm despite the most recent volatile price action.
    • The pair has cleared all key retracements of the downleg between Oct - Dec 2020.
    • Attention is on the 5.80 handle and the 5.8080, Oct 30 2020 high and a key resistance.
    • On the downside, firm support is seen at 5.5334, the Feb 22 high and a recent breakout level.
  • USDCLP remains firm. The pair has this week cleared the 50-day EMA and the break signals an extension of the rebound from last week's low of 699.19 on Feb 24. This has opened 740.35, Feb 8 high. On the downside, 699.19 marks the key support. Initial support lies at 716.75, Feb 26 low.