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Price Signal Summary - Key Support For Bunds Lies At The 20-Day EMA

  • In the FI space, Bund futures remain above 134.80, the Mar 22 low. A key support at the 20-day EMA, which intersects at 135.05 today, remains intact. A clear break of the average is required to signal scope for a deeper pullback. For now, the recent retracement down appears to have been a correction and attention is on the 140.00 handle and key resistance at 140.30, the Mar 20 high and a bull trigger.
  • Gilt futures traded to a low of 102.84 on Mar 22. Price has recovered from this low. Sights are on 107.33, the Mar 20 high and a bull trigger. Clearance of this level would reinforce a bullish theme and open 107.78, the Feb 2 high on the continuation chart. On the downside, support to watch is at the 20-day EMA which intersects at 103.59. A clear break of this average is required to highlight a possible reversal.

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