Midday update for Soybean price 11-01-2021

Corn price tested the minor bullish channel’s support line that appears on the chart and bounced bullishly from there, to keep the bullish trend valid and active for today, supported by the EMA50 that carries the price from below, waiting to visit 512.50 level as a next target, noting that holding above 483.00 is important to continue the expected rise.

The NZDUSD pair settles below 0.7200, and the bearish trend scenario still active affected by the previously completed double top pattern, waiting to test 0.7160 followed by 0.7147 levels as main negative stations, reminding you that the continuation of the bearish wave depends on the price stability below 0.7225.

The AUDUSD pair settles at the bullish channel’s support line, and stochastic begins providing positive signals that support resuming the main bullish trend, but we still neutral until the price confirms its situation according to 0.7695 to detect the next destination clearly.