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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

(M1) Corrective Cycle

BTP TECHS
  • RES 4: 147.79 High May 4 and key near-term resistance
  • RES 3: 147.33 High May 7
  • RES 2: 146.84 Low Feb 26 and recent breakout level
  • RES 1: 146.37 20-day EMA
  • PRICE: 146.12 @ Close May 24
  • SUP 1: 144.48 Low May 17
  • SUP 2: 144.16 1.236 proj of the Feb 12 - 26 - Mar 11 price swing
  • SUP 3: 144.00 Round number support
  • SUP 4: 143.61 Low Jul 13, 2020 (cont)

BTP futures remain in a clear downtrend following last week's extension lower that resulted in a fresh 2021 low of 144.48 on Mar 19. Recent gains are considered corrective. The breach of 146.84, Feb 26 low confirms a resumption of the bear cycle from Feb 12. Moving average studies are in a bear mode too, reinforcing current conditions. Attention is on 144.16, a Fibonacci projection. Firm resistance is seen at 146.84.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com