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JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

AUSSIE 3-YEAR TECHS

(M1) Directional Triggers Intact

USDCAD TECHS

Approaching Major Support

US TSYS SUMMARY

Inflation Concerns Underpin Bear Steepening

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  • 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: 171.11/27 20-day EMA / High Apr 22
  • PRICE: 170.61 @ 04:58 BST Apr 28
  • 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 have defined a short term resistance at 171.27, Apr 22 high and just above the 20-day EMA. A clear 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 potential for a move lower. Price still needs to trade through the 170.05 Fibonacci retracement to resume bearish pressure.