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MYR

Firmer Start

FOREX

AUD Leads G10 Pack, Volatility Subdued

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  • RES 4: $1480.00 - High Jun 7 and the key bull trigger
  • RES 3: $1466.00 - High Jun 8
  • RES 2: $1379.75/1423.00 - High Aug 17 / High Jul 1
  • RES 1: $1319.69/39.50-day EMA / High Aug 25
  • PRICE: $1287.25 @ 15:23 BST Sep 17
  • SUP 1: $1262.75 - Low Sep 13
  • SUP 2: $1259.75 - Low Jun 25
  • SUP 3: $1240.50 - Low Jun 17 and key support
  • SUP 4: $1200.00 - Psychological round number

Soybean futures are consolidating and remain closer to the lower end of the recent range. A bearish theme dominates following the recent break of $1308.75, Aug 3 low. The contract has also eroded former support at $1270.00, Sep 1 low opening $1259.75, Jun 25 low and $1240.50, Jun 17 low and a key support. Key short-term resistance is unchanged at $1379.75, Aug 17 high. A break would be bullish. Initial resistance is at $1319.69.