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BOBL TECHS

(U1) Approaching Key Support

BUND TECHS

(U1) Holding Above Support

INDIA

Operation Switch Smaller Than Expected

BOND SUMMARY

A Calmer Asia Session

ASIA FX

Positive Risk Sentiment Offset By USD Bounce

FOREX

Greenback Edges Higher, Antipodeans Sag

GILT TECHS
GILT TECHS: (U17) Rally Trying To Break Free Of Fibo Retrace At 127.48 
*RES 4: 128.68 Jun 21 high
*RES 3: 128.13 76.4% Fibo of 129.19-124.71
*RES 2: 127.96 1% volatility band
*RES 1: 127.48/56 61.8% Fibo of 129.19-124.71, Aug 9 high
*PRICE: 127.47 @1200GMT
*SUP 1: 126.95/06 Aug 8-9 gap, now support
*SUP 2: 126.81 Aug 8 low
*SUP 3: 126.49/54 Jul 28 high, Aug 4 low
*SUP 4: 126.05 Jul 26 high, congestion area Jul 28-Aug 2
*COMMENTARY* The recovery has now slightly exceeded 127.31, the swing target of
the recent 126.67-125.63 fall. Next up should be a test of the 61.8% Fibo
retrace level at 127.48. In the meantime, support also on the rise, initially
from the Aug 8-Aug 9 gap between 127.06-126.95 and then Tuesday's 126.81 base.
Any setback should hold above here, if further gains to be seen at this
juncture. The 1% volatility band at 127.96 then the next upside obstacle.