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AUDUSD TECHS

New Weekly Lows

EURJPY TECHS

Needle Still Points North

GILT TECHS

(M1) Key Support Zone Exposed

SCHATZ TECHS

(M1) Clears Congestion Support

BTP TECHS

(M1) Downtrend Extends Further

BTPS
  • RES 4: 148.97 High Feb 13 (cont)
  • RES 3: 148.95 High Mar 4 (cont)
  • RES 2: 148.99 1.0% 10-dma envelope
  • RES 1: 148.16 High Aug 5
  • PRICE: 146.81 @ Close Aug 13
  • SUP 1: 146.37 Low Aug 3
  • SUP 2: 145.62 Low Jul 21
  • SUP 3: 144.92 Low Jul 20
  • SUP 4: 144.65 50-dma (cont)

Despite holding up for most of the week, BTP futures caught up with their fixed income counterparts Thursday, with prices breaking down after a tepid Italian auction. As a result, the recent bias of dip buying failed to materialize, pressuring BTPs to new weekly lows. MA studies remain bullish, but have weakened a touch due to this week's moderation. Initial firm support shifts lower to 146.37, Aug 3 low.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com