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EURUSD TECHS

Topping 50-day EMA

EQUITIES

J&J Drags on Dow, DJIA Underperforms

RUSSIA

USD/RUB Slips, Approaches April Lows

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  • RES 4: 152.62 76.4% retracement of the Feb 12 - 26 sell-off
  • RES 3: 151.98 High Feb 22
  • RES 2: 151.22 50-day EMA
  • RES 1: 151.07 High Mar 1and 3
  • PRICE: 150.75 @ Close Mar 2
  • SUP 1: 149.76 High Mar 3
  • SUP 2: 148.72 Low Feb 26 and the bear trigger
  • SUP 3: 148.37 Low Oct 22 and key support
  • SUP 4: 148.23 200-dma (cont)

BTP futures remain in a bear mode following last week's strong sell-off. The recent corrective bounce has stalled at 151.07, Mar 1 and 3 high and yesterday's sell-off signals scope for a retest of last week's low print of 148.72 on Feb 26. The breach on Feb 25 of support at 149.57, Jan 22 low adds further weight to a bearish theme. A break of 148.72 would open the 148.00 handle. Resistance is at 151.07.