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BONDS

Off Lows

GILT TECHS

(Z1) Remains Heavy

INDIA

Indian Issuance Plan Looms

SCHATZ TECHS

(Z1) Trend Conditions Remains Bearish

BOBL TECHS

(Z1) Needle Still Points South

BUND TECHS

(Z1) Bear Trend Sequence Intact

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  • RES 4: 1.2006 High Jun 29 / Jun 17
  • RES 3: 1.1975 High Jun 25
  • RES 2: 1.1920/30 50-day EMA / High Jun 29
  • RES 1: 1.1851/1881 High Jul 15 / High Jul 9
  • PRICE: 1.1844 @ 20:35 BST Jul 28
  • SUP 1: 1.1752 Low Jul 21
  • SUP 2: 1.1738 Low Apr 5
  • SUP 3: 1.1704 Low Mar 31 and a key support
  • SUP 4: 1.1603 Low Nov 4, 2020

EURUSD shrugged off a Fed-inspired dip lower, higher into the close yesterday. The pair however remains in a tight range. The trend direction is down, with resistance at 1.1851 still intact. A trend sequence of lower lows and lower highs dominates highlighting a clear downtrend. Note that a death cross (50- breaking below the 200-dma) has recently occurred, reinforcing a bearish theme. The focus is on 1.1704, Mar 31 low. Initial resistance is at 1.1851, Jul 15 high.