(H0) Tuesday's Highs Untroubled *RES.....>

BUND TECHS: (H0) Tuesday's Highs Untroubled

*RES 3: 175.55 1.618 projection of the Jan 2 - Jan 8 rally from Jan 14 low

*RES 2: 175.30 High Jan 31 and key bull trigger

*RES 1: 174.92 76.4% retracement of the Jan 31 - Feb 6 decline / High Feb 18

*PRICE: 174.70 @ 05:11 GMT Feb 20

*SUP 1: 173.72 Low Feb 12

*SUP 2: 173.41 Low Jan 27 and Jan 29

*SUP 3: 173.21 50-day EMA

After Tuesday's pullback, Bund futures inched higher Wednesday but did little to

trouble the best levels of the week so far. Attention remains on the potential

for a pullback in prices to extend the reversal from Jan 31. However, initial

resistance at the Feb 10 high has been breached, suggesting scope for a recovery

towards resistance at 175.30, the Jan 31 high. A 175.30 break would confirm a

resumption of this year's uptrend. Sub 173.42 levels are required to reinstate a

bearish theme and the 50-day EMA.