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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: 1.2038 2.0% 10-dma envelope
  • RES 3: 1.1990 High Mar 11 and a key resistance
  • RES 2: 1.1941 50-day EMA
  • RES 1: 1.1927 High Apr 8
  • PRICE: 1.1924 @ 17:49 GMT Apr 8
  • SUP 1: 1.1795 Low Apr 6
  • SUP 2: 1.1738 Low Apr 5
  • SUP 3: 1.1704/1695 Low Mar 31 / 38.2% of the Mar 2020 - Jan rally
  • SUP 4: 1.1647 1.50 proj of the Jan 6 - Feb 5 - Feb 25 price swing

EURUSD traded well across the week, showing above the 1.0% 10-dma envelope as well as the 20-day EMA. This has resulted in price moving into a bear channel range once again, drawn off this year's Jan 6 high.. Gains are considered corrective though with the next firm resistance at 1.1941, the 50-day EMA. A clear break of the average would signal scope for a stronger rally. Initial support is 1.1795.