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TURKEY

Erdogan Says He Will Never Advocate a Rate Hike

AUD

AUDUSD consolidates

GERMAN T-BILL AUCTION RESULTS

6/9-month bubills

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  • RES 4: $1379.75/1423.00 - High Aug 17 / High Jul 1
  • RES 3: $1308.00/39.50 - High Sep 16 / High Aug 25
  • RES 2: $1297.00 - High Sep 27 and a key resistance
  • RES 1: $1262.50 - High Oct 8
  • PRICE: $1237.50 @ 13:44 BST Oct 20
  • SUP 1: $1184.00 - Low Mar 31, 2020
  • SUP 2: $1153.25 - 50.0% retracement of the Apr '20 - Jun '21 rally
  • SUP 3: $1135.75 - Low Feb 3
  • SUP 4: $1097.00 - Jan 25low

Soybean futures remain in a downtrend and recent gains are considered corrective. The contract has recently breached $1257.50, Sep 21 low, reinforcing bearish conditions and the subsequent follow through resulted in a break of $1240.50, Jun 17 low. This maintains the bearish sequence of lower lows and lower highs and moving average studies remain in a bear mode. Attention is on $1184.00, Mar 31 low. Firm resistance is at $1262.50.