Soybean price within tight track – Analysis - 18-03-2021

Corn price keeps its stability above the breached resistance of the symmetrical triangle, settling around 550.00 level, thus, our bullish overview will remain valid for the upcoming period, waiting to get positive motive that assist to push the price to resume the positive trades that target 570.40 level, reminding you that it is important to hold above 540.00 and 530.00 levels to continue the expected rise.

The USDCHF pair succeeded to break 0.9256 level and traded with clear negativity to settle below it, reinforcing the expectations of continuing the bearish trend, which targets 0.9185 as a next station, noting that surpassing this level will push the price to 0.9125 as a next negative target.

The NZDUSD pair traded with clear positivity to test the key resistance 0.7240, noticing that the price keeps its stability below it until now, which keeps the bearish trend scenario valid until now, supported by stochastic loss to the positive momentum.