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Free AccessMNI BRIEF: China May Inject CNY1 Trln To Replenish Big Banks
(U18) Key 161.80 Support Comes Under.....>
BUND TECHS: (U18) Key 161.80 Support Comes Under Investigation
*RES 4: 163.03/05 May 30 high, 76.4% Fibo of 164.19-159.37
*RES 3: 162.69 1.618 swing of 162.35-161.80
*RES 2: 162.57 Jun 25 high
*RES 1: 162.37/40 Intraday high, hourly resistance
*PRICE: 162.09 @1505GMT
*SUP 1: 161.75/80 Intraday, Jun 22 lows
*SUP 2: 161.52 Jun 15 high, now support
*SUP 3: 161.26 Jun 21 low
*SUP 4: 160.95 Hourly base Jun 15
*COMMENTARY* After holding 161.80 on Friday, the rally extended through 162.35
on Monday, to reach 162.57, before falling foul of some near term overbought
conditions. The subsequent loss of 161.95 support puts the onus back on 161.80,
a sustained loss here would disappoint now and open up the chance of a deeper
correction of gains from the Jun 8 low at 159.37. Resistance 162.40, then that
162.57, above which would allow 162.69 and then 163.03-163.05 next.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.