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CHINA RATES

China Repo Rates Diverge On Friday

AUSSIE BONDS

Not Much Reaction To SoMP

RBA

Major Economic Forecasts In SoMP

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BTPS
  • RES 4: 148.97 High Feb 13 (cont)
  • RES 3: 148.94 1.0% 10-dma envelope
  • RES 2: 148.27 High Aug 20 and the key resistance
  • RES 1: 147.83 High Aug 25
  • PRICE: 146.78 @ Close Aug 28
  • SUP 1: 146.41/37 Low Aug 14 / Low Aug 3 and key support
  • SUP 2: 145.62 Low Jul 21
  • SUP 3: 145.72 50-day EMA
  • SUP 4: 144.92 Low Jul 20

BTP futures continue to trade below recent highs. Last week's selling pressure has exposed key support at 146.41, Aug 14 low. A breach of this level would signal a near-term top in the trend and the likely start of a correction. This would open 145.72 initially, the 50-day EMA. Clearance of the average would reinforce bearish conditions. Note, for now the trend remains up while support holds. The bull trigger is 148.27, Aug 20 high.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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