Corn prices managed to pierce 509.50 and close below it, supporting the continuation of the expected downward trend in the intraday levels and the short term, and opening the door for 470.00 then 435.60 as main negative targets.

Negative pressure from the 50 SMA supports the suggested downward wave, which will stand as long as prices hold below 509.50.

Expected trading range for today is between the 470.00 support and the 500.00 resistance.

Expected trend for today: Bearish

The USD/CHF pair managed to achieve our first positive target at 0.8770 and is attempting a reliable breach right now, bolstering the case for more correctional gains in upcoming sessions on track for 0.8825 then 0.8890 as main next targets.

The positive impact of the Double Bottom pattern still remains and paves the way for more gains, however we note that piercing 0.8720 will stymie the positive scenario and pressure the pair downwards. 

Expected trading range for today is between the 0.8720 support and the 0.8860 resistance.

Expected trend for today: Bullish

The NZD/USD pair hammered through the 0.6140 level and reversed lower towards a new downward correction in upcoming sessions, opening the door for more negative targets that start at 0.6020 and stretch to 0.5900 after bypassing the previous level.

The 50 SMA is pressuring the pair downwards and bolstering the suggested declining wave, which could carry on unless the 0.6140 was breached then settled above once again.

Expected trading range for today is between the 0.6000 support and the 0.6140 resistance.

Expected trend for today: Bearish

The AUD/USD pair kept declining until reaching 0.6550, with the pair already piercing and settling below that level yesterday, opening the door for more losses towards new negative targets that stretch to 0.6400. 

Thus we expect more downward trending in upcoming sessions, bolstered by negative pressure from the 50 SMA, however we note that piercing 0.6550 and settling above it will stymie the suggested decline and lead the pair to a recovery of recent losses.

Expected trading range for today is between the 0.6460 support and the 0.6580 resistance.

Expected trend for today: Bearish