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(M1) Recovering From Recent Lows
- RES 4: 172.34 High Mar 29
- RES 3: 172.12 High Apr 8 and key near-term resistance
- RES 2: 171.62 High Apr 14
- RES 1: 171.25 20-day EMA
- PRICE: 171.19 @ 05:15 BST Apr 22
- SUP 1: 170.05 76.4% retracement of the Feb 25 - Mar 25 rally
- SUP 2: 170.00 Round number support
- SUP 3: 169.24 Low Feb 24 and major support
- SUP 4: 168.96 0.618 proj of the Jan 27 - Feb 25 - Mar 25 price swing
Bund futures are recovering from Tuesday's low. The contract is approaching its 20-day EMA at 171.25. A break of this average would strengthen a short-term bullish theme and signal scope for a stronger recovery. This would open 171.62, Apr 14 high. The recent focus has been on the risk of an extension lower. Price needs to trade through the 171.05 Fibonacci retracement to resume bearish pressure.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.