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Price Signal Summary - Bunds Test Support At The 20-Day EMA

OUTLOOK
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income NewsForeign Exchange News
  • In the FI space, Bund futures traded lower Tuesday as the contract extends the pullback from last Friday’s high of 139.54. Price has today tested a key support at the 20-day EMA which intersects at 135.54. It represents an important pivot level and a clear break of the average is required to signal scope for a deeper pullback. This would open 134.80, the Mar 22 low. On the upside initial resistance is at yesterday’s intraday high of 136.56.
  • Gilt futures traded lower Tuesday. The move down has resulted in a break of support at the 20-day EMA which intersects at 103.72. This average represents an important short-term support and a clear break would signal scope for a continuation lower near-term towards 102.84, the Mar 22 low. On the upside, initial resistance is seen at 104.35, yesterday’s intraday high. A move above this level would ease the developing bearish threat.
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  • In the FI space, Bund futures traded lower Tuesday as the contract extends the pullback from last Friday’s high of 139.54. Price has today tested a key support at the 20-day EMA which intersects at 135.54. It represents an important pivot level and a clear break of the average is required to signal scope for a deeper pullback. This would open 134.80, the Mar 22 low. On the upside initial resistance is at yesterday’s intraday high of 136.56.
  • Gilt futures traded lower Tuesday. The move down has resulted in a break of support at the 20-day EMA which intersects at 103.72. This average represents an important short-term support and a clear break would signal scope for a continuation lower near-term towards 102.84, the Mar 22 low. On the upside, initial resistance is seen at 104.35, yesterday’s intraday high. A move above this level would ease the developing bearish threat.