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USDCAD TECHS

Pullback Considered Corrective

AUDUSD TECHS

Trend Indicators Point South

EURJPY TECHS

Bearish Focus

USDJPY TECHS

Consolidating Below Resistance

EURGBP TECHS

Approaching Key Support

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  • RES 4: $644.25 - 0.764 proj of Mar 30 - May 7 - May 26 price swing
  • RES 3: $638.00 - High May 7 and the bull trigger
  • RES 2: $628.25 - High Jun 10
  • RES 1: $575.00/586.25 - High Jun 18 / High Jun 15
  • PRICE: $534.25 @ 13:44 BST Jun 25
  • SUP 1: $500.25 - Low May 26 and key support
  • SUP 2: $481.50 - Low Apr 7
  • SUP 3: $449.50 - Low Mar 30
  • SUP 4: $441.00 - Low Feb 11

Corn futures traded lower yesterday and the outlook remains bearish. This follows a sharp sell-off since Jun 10. The move lower has resulted in a break of both the 20- and 50-day EMAs. A clear breach of these averages strengthens the current bearish case and signals scope for a deeper retracement. The focus is on $500.25, the May 26 low and a key support. On the upside, initial resistance is seen at $575.00, Jun 18 high.