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JGBS

5-Year Supply & Kuroda Eyed

AUD

Struggles To Break 0.78 Handle

AUSSIE BONDS

Supply & Local Data Due

JPY

USD/JPY Remains Heavy

Fading Swiftly

EURO-STERLING TECHS
  • RES 4: 0.9225 2.0% 10-dma envelope
  • RES 3: 0.9184 61.8% Fibonacci retracement of the Mar - Apr decline
  • RES 2: 0.9176 High Jun 29 and the bull trigger
  • RES 1: 0.9148 High Jul 27
  • PRICE: 0.9025 @ 05:21 BST Aug 7
  • SUP 1: 0.8981 Low Jul 31
  • SUP 2: 0.8938 Low Jul 10 and the key near-term support
  • SUP 3: 0.8932 100-dma
  • SUP 4: 0.8913 Low Jun 16

EUR/GBP faded Thursday having failed to make any test on key resistance at 0.9148. Despite closing back above the 50-dma, EUR/GBP failed to find any firmer ground, but the slippage is still short of flipping the outlook just yet. Nonetheless, bulls will remain shaky until progress is made above 0.9148 (Jul 27 high). A break above here open 0.9176, Jun 29 high initially. 0.8981 is the key near-term support.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com