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RBC Looking To Enter IRZ2/Z3 Flattener


1 month USD/KRW Back Sub 1290 ​​


(U2) Off Lows, But Still Fragile


Late Overnight Levels Prevail

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(M2) Fresh Cycle Low Once Again

  • RES 4: 163.20 High Mar 11
  • RES 3: 164.43 High Mar 10
  • RES 2: 162.73 High Mar 14
  • RES 1: 160.31/161.73 High Mar 23 / 20-day EMA
  • PRICE: 157.86 @ 05:11 GMT Mar 28
  • SUP 1: 157.79 Intraday low
  • SUP 2: 157.33 Low Oct 10 2018 (cont)
  • SUP 3: 156.88 Low Mar 8 2018 (cont)
  • SUP 4: 156.55 Low Dec 8 2015 (cont)

Bunds are softer this morning and remain in a downtrend. The contract last week traded through the psychological 160.00 handle. The continuation lower confirmed an extension of the broader bearish price sequence of lower lows and lower highs that has unfolded since Aug / Sep 2019. With bearish momentum conditions dominating, the focus is on 157.33 next, Oct 10 2018 low (cont). Firm resistance is at 160.31.

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

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