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COMMODITIES

Is The Rally on Copper Over?

EGB OPTIONS

Bund July Call Buyer

GILT AUCTION RESULTS

DMO sells GBP2bln of the 1.25% Jul-51 Gilt

MNI EXCLUSIVE

Timeline For Approval Of Plans On NGEU Aid

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  • RES 4: 133.56 Bull channel top drawn off the Oct 30, 2020 low
  • RES 3: 133.28 1.50 proj of Jun-Sep-Oct 2020 swing
  • RES 2: 133.13 High Sep 21, 2018 and a key resistance
  • RES 1: 132.39 Intraday high
  • PRICE: 132.27 @ 06:47 BST May 10
  • SUP 1: 131.48 Low May 7
  • SUP 2: 130.99 Low May 5 and a key support
  • SUP 3: 130.57 Low Apr 27
  • SUP 4: 130.05 Bull channel base drawn off the Oct 30, 2020 low

The EURJPY outlook remains bullish with the recent pullback erased. Price is again testing 132.36, a Fibonacci projection. A clear break would reinforce bullish conditions and signal scope for an extension higher within the bull channel drawn off the Oct 30 2020 low. Moving average studies are pointing north reinforcing current conditions. Support is at 130.99, May 5 low. The focus is on 133.28 next, a Fibonacci projection.