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Cable drifts below 1.2500


(M2)‌‌ Eyeing The 50-Day EMA


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(M1) Retracing Recent

  • RES 4: 172.83 Low May 5
  • RES 3: 172.78 0.764 proj of the Feb 25 - Mar 11 - Mar 18 price swing
  • RES 2: 172.66 High Mar 25
  • RES 1: 172.34 High Mar 29
  • PRICE: 171.31 @ 05:12 GMT Mar 30
  • SUP 1: 171.23 20-day EMA
  • SUP 2: 170.93 Low Mar 19
  • SUP 3: 170.52 Low Mar 18 and key support
  • SUP 4: 170.00 Round number support

Bund futures continue to retrace recent gains. The pullback highlights the importance of support at 170.52, Mar 18 low. A break of this level would strengthen a bearish argument and signal scope for a deeper sell-off. The recent pullback suggests that the entire recovery between Feb 25 - Mar 25 has been a correction and that this corrective is likely over. Key resistance has been defined at 172.66, Mar 25 high.

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MNI London Bureau | +44 203-586-3805 |

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