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JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

AUSSIE 3-YEAR TECHS

(M1) Directional Triggers Intact

USDCAD TECHS

Approaching Major Support

US TSYS SUMMARY

Inflation Concerns Underpin Bear Steepening

(U0) Bears Eye Close Below 176

BUND TECHS
  • RES 4: 179.56 High Mar 6 (cont)
  • RES 3: 179.22 1.000 proj of Jun 5 - Jun 29 rally from Jul 2 low
  • RES 2: 178.23 0.764 proj of Jun 5 - Jun 29 rally from Jul 2 low
  • RES 1: 178.00 / 01 Round number resistance / High Jul 31
  • PRICE: 176.52 @ 05:07 BST Aug 13
  • SUP 1: 176.16 50-dma
  • SUP 2: 175.93 Low Aug 12
  • SUP 3: 175.77/54 Low Jul 20 / Low Jul 9
  • SUP 4: 175.04 Low Jul 2

A fourth consecutive session of lower lows for Bunds has kept bulls shaky Wednesday, with the show below the 50-dma also undermining the upside argument. A close below 176 and the 50-dma at 176.10 would be a bearish development, opening 175.77 and levels not seen since early June. Markets need a close above 178.00/01 to re-accelerate any rally.

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