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KOREA RATES

10-Year Future Hits Contract High

TWD

Central Bank On Hold At Record Low

CHINA RATES

China Repo Rates Rise Friday

KRW

Coronavirus Cases Stubbornly Above 500

US TSY FUTURES

TYU1 Lifted

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  • RES 4: 171.62 High Apr 14
  • RES 3: 171.34 50-day EMA
  • RES 2: 171.27 High Apr 22
  • RES 1: 170.88 High Apr 6
  • PRICE: 170.46 @ 05:00 BST May 7
  • SUP 1: 169.89 Low Apr 4
  • SUP 2: 169.47/24 Low Apr 3 / Low Feb 24 and major support
  • SUP 3: 168.96 0.618 proj of the Jan 27 - Feb 25 - Mar 25 price swing
  • SUP 4: 168.52 Low Mar 20, 2020 (cont)

Bund futures are largely unchanged and continue to trade close to recent highs. Despite this week's gains, a downtrend remains intact. The downleg that started Mar 25 has opened the key support at 169.24, Feb 25 low. Clearance of this level would confirm a resumption of the downtrend and expose 169.00 and below. Initial resistance is seen at 170.88, Apr 6 high. The area around the 50-day EMA at 171.34 represents a key resistance.