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ANZ: Turning Tide

JGBS AUCTION

Japanese MOF sells Y4.54004tn 3-Month Bills:

OIL

A Little Below One-Week Highs

US TSYS

Further Away From Session Lows

IDR

Rupiah Outplays Emerging Asia Peers

AUSSIE BONDS

Futures Off Worst Levels

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(U2) Corrective Cycle Resumes

BUND TECHS
  • RES 4: 152.28 76.4% retracement of the May 12 - Jun 16 bear leg
  • RES 3: 150.59 50-day EMA
  • RES 2: 150.06 61.8% retracement of the May 12 - Jun 16 bear leg
  • RES 1: 149.46 Intraday high
  • PRICE: 149.35 @ 05:12 BST Jul 1
  • SUP 1: 146.50/144.72 Low Jun 30/ 28 and a key support
  • SUP 2: 142.56/140.67 Low Jun 17 / Low Jun 16 and bear trigger
  • SUP 3: 140.00 Psychological round number
  • SUP 4: 138.68 Low Jan 2 2014 (cont)

Bund futures have resumed their short-term uptrend and corrective cycle. The contract has traded above resistance at 149.00 to signal potential for a climb towards 150.06, a Fibonacci retracement. A breach of this level would open the 50-day EMA, at 150.59. This average represents an important resistance. On the downside, key short-term support has been defined at 144.72, a break would highlight a bearish reversal reversal.

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  • RES 4: 152.28 76.4% retracement of the May 12 - Jun 16 bear leg
  • RES 3: 150.59 50-day EMA
  • RES 2: 150.06 61.8% retracement of the May 12 - Jun 16 bear leg
  • RES 1: 149.46 Intraday high
  • PRICE: 149.35 @ 05:12 BST Jul 1
  • SUP 1: 146.50/144.72 Low Jun 30/ 28 and a key support
  • SUP 2: 142.56/140.67 Low Jun 17 / Low Jun 16 and bear trigger
  • SUP 3: 140.00 Psychological round number
  • SUP 4: 138.68 Low Jan 2 2014 (cont)

Bund futures have resumed their short-term uptrend and corrective cycle. The contract has traded above resistance at 149.00 to signal potential for a climb towards 150.06, a Fibonacci retracement. A breach of this level would open the 50-day EMA, at 150.59. This average represents an important resistance. On the downside, key short-term support has been defined at 144.72, a break would highlight a bearish reversal reversal.