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EMERGING MARKETS

CEEMEA FX Price Signal Summary: USDRUB Weakness Accelerates

BONDS

EGB/Gilts - Holding onto gains

CROSS ASSET

Govies and FX

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  • RES 4: 133-12+ High Sep 22
  • RES 3: 132-21+ Low Aug 11 and recent breakout level
  • RES 2: 132-08+ High Oct 4
  • RES 1: 131-28 20-day EMA
  • PRICE: 131-13 @ 11:33 BST Oct 14
  • SUP 1: 130-25 This week's congestion area
  • SUP 2: 130-07 1.764 proj of the Aug 4 - 11 - 17 price swing
  • SUP 3: 130-00 Psychological round number
  • SUP 4: 129-03 50.0% of the Oct '18 - Mar '20 bull cycle

Treasuries have entered a short-term corrective cycle following the recovery from this week's 130-25+ low. This is allowing a recent oversold condition to unwind and scope exists for a climb towards the 20-day EMA at 131-28. The broader trend direction remains down and a resumption of weakness together with a break of 130-25+, would resume the downtrend and open the 130-00 handle.