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EQUITIES

Technology under early pressure

USD

In the Green across the board now

GILT AUCTION PREVIEW

1.25% Jul-51

GILTS

Opening calls

SOUTH AFRICA

SAGBs Take a Knock, 2Y Notches +12.1bp Higher

JPY

USDJPY is through new intraday high

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  • RES 4: 155.00 Round number resistance
  • RES 3: 154.15 0.764 proj of May 19 - Jun 14 - Jun 25 price swing
  • RES 2: 153.82 High Feb 12 (cont)
  • RES 1: 153.48 High Feb 20
  • PRICE: 153.33 @ Close Jul 20
  • SUP 1: 152.65 Low Jul 14
  • SUP 2: 151.93/54 Low Jul 8 / Low Jul 6
  • SUP 3: 151.19 High Jul 1
  • SUP 4: 150.56 Low Jun 30

BTPs maintain a bullish tone following last week's resumption of the uptrend. Gains Jul 6 and 7 resulted in a breach of key resistance at 152.47, Jun 14 high. The break confirmed a resumption of the uptrend that started May 19 and paves the way for a stronger short-term recovery. Last week's extension and this week's fresh high prints reinforce the bullish theme. Attention is on 153.82, the Feb 12 high. Initial support is at the Jul 14 low of 152.65.