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MNI FOMC Hawk-Dove Spectrum
(M1) Support Remains Exposed
- RES 4: 135.520 High Mar 25
- RES 3: 135.440 High Mar 29
- RES 2: 135.350 High Apr 8 and key near-term resistance
- RES 1: 135.180 High Apr 14
- PRICE: 135.050 @ 05:18 BST Apr 16
- SUP 1: 134.830 Low Apr 15
- SUP 2: 134.780 Low Mar 8 and 9
- SUP 3: 134.667 61.8% retracement of the Feb 26 - Mar 25 rally
- SUP 4: 134.446 76.4% retracement of the Feb 26 - Mar 25 rally
Bobl futures traded lower Wednesday clearing a number of near-term supports along the way. Despite yesterday's gains, a bearish outlook remains intact with attention on support at 134.780, Mar 9 low where a break would strengthen a bearish argument and suggest scope for a deeper pullback. This would open 134.667, a Fibonacci retracement. On the upside, initial resistance is at 135.180, Apr 14 high.
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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.