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AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

USDCAD TECHS

Trend Structure Remains Bullish

US TSYS

Cautious Risk Appetite Gains Momentum

AUDUSD TECHS

Key Support Still Exposed

US STOCKS

Late Equity Roundup: 2W Highs

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(M2) Bearish Focus

GILT TECHS
  • RES 4: 122.72 High Mar 18
  • RES 3: 122.35 High Apr 4
  • RES 2: 121.84 50.0% retracement of the Mar 1 - May 9 bear leg
  • RES 1: 119.95/121.07 High May 19 / High May 12
  • PRICE: 118.88 @ Close May 20
  • SUP 1: 118.25 Low May 11
  • SUP 2: 116.87 Low May 9 and the bear trigger
  • SUP 3: 116.35 Low Dec 30 2015 (cont)
  • SUP 4: 115.40 1.00 proj of the Mar 1 - 28 - Apr 4 price swing

The primary trend direction in Gilt futures remains down. The pullback from recent highs just above the 50-day EMA, is a bearish development and suggests that the correction between May 9 - 12 is over. If correct, a continuation lower would open the key support and bear trigger at 116.87, May 9 low. Key short-term resistance has been defined at 121.07, May 12 high, where a break is required to reinstate a short-term bullish bullish theme.

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  • RES 4: 122.72 High Mar 18
  • RES 3: 122.35 High Apr 4
  • RES 2: 121.84 50.0% retracement of the Mar 1 - May 9 bear leg
  • RES 1: 119.95/121.07 High May 19 / High May 12
  • PRICE: 118.88 @ Close May 20
  • SUP 1: 118.25 Low May 11
  • SUP 2: 116.87 Low May 9 and the bear trigger
  • SUP 3: 116.35 Low Dec 30 2015 (cont)
  • SUP 4: 115.40 1.00 proj of the Mar 1 - 28 - Apr 4 price swing

The primary trend direction in Gilt futures remains down. The pullback from recent highs just above the 50-day EMA, is a bearish development and suggests that the correction between May 9 - 12 is over. If correct, a continuation lower would open the key support and bear trigger at 116.87, May 9 low. Key short-term resistance has been defined at 121.07, May 12 high, where a break is required to reinstate a short-term bullish bullish theme.