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Flirting with the 20-day EMA

EGBS

After the Eurozone PMI was also on the weak side, EGBs continue to lead global core fixed income higher. Larger risk-off sentiment from the Ukraine situation is also helping core FI move higher.

  • Bund futures have broken above the 170.70 20-day EMA our technical analyst had highlighted as the first resistance level. The next level to the upside will be the 171.00 psychological level / 13 January high.
  • BTP futures continue to challenge the 20-day EMA level, too. This comes in at 146.44. Above here is the January 14 high of 164.80 which is the key short-term resistance.

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