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CROSS ASSET

Commodity-Tied Dollar Bloc Leads

JGBS

Cheaper On Wider Impetus

AUSSIE BONDS

YM Off Lows, Trouble Staying Offered In Wake Of GDP

FED

VIEW: BNP Paribas: Faster Tapering

US EURODLR FUTURES

Some Light Selling Seen

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  • RES 3: 153.02 - High Apr 28 2020
  • RES 2: 152.62 - High Jul 21 and the bull trigger
  • RES 1: 151.93 High Sep 10 / 15
  • PRICE: 151.23 @ 16:07 BST Oct 22
  • SUP 1: 151.13 - Low Oct 25
  • SUP 2: 150.88 - Low Apr 1
  • SUP 3: 150.38 - Low Feb 26

The recent sell-off in JGBs remains top of mind for markets, but the downside pressure has abated somewhat in recent sessions. As such, markets have undergone a minor corrective bounce, but the sentiment and trend direction remains unchanged, with a re-test of recent lows likely. Weakness through 151.18 has opened 150.88 and below. For the upside argument to firm, markets need to solidify the recovery above the 151.50 level initially ahead of the 200-dma at 151.69.