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RUSSIA

USD/RUB Slips, Approaches April Lows

US 10YR FUTURE TECHS

‌‌(M1)‌‌ Resistance Remains Intact

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  • RES 4: 106.95 High Aug 28, 2020
  • RES 3: 106.63 1.0% 10-dma envelope
  • RES 2: 106.55 High Sep 3, 2020
  • RES 1: 106.29 High Feb 25
  • PRICE: 106.20 @ 17:23 GMT Feb 25
  • SUP 1: 104.92 Low Feb 23
  • SUP 2: 104.74 Trendline drawn off the Jan 6 low / Low Feb 10
  • SUP 3: 104.41 Low Feb 10
  • SUP 4: 104.07 Low Jan 28

USDJPY maintains a bullish tone and the recent pullback has been confirmed as a correction. The Feb 16 climb resulted in a break of resistance at 105.77, Feb 5 high. This confirms a resumption of the uptrend that started Jan 6 and reinforces the significance of the recent key technical break - the breach on Jan 27 of the bear channel resistance drawn off the Mar 2020 high. The focus is on 106.55 next, the Sep Support is seen at 104.74.