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TURKEY

Erdogan Says He Will Never Advocate a Rate Hike

AUD

AUDUSD consolidates

GERMAN T-BILL AUCTION RESULTS

6/9-month bubills

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  • RES 4: 171.72 High Sep 23
  • RES 3: 170.76 50-day EMA
  • RES 2: 170.55 High Oct 4
  • RES 1: 169.48/92 High Oct 19 / High Oct 14 and key resistance
  • PRICE: 168.04 @ 05:20 BST Oct 22
  • SUP 1: 167.79 2.50 proj of the Sep 9 - 17 - 21 price swing
  • SUP 2: 167.52 Low Mar 19 2020
  • SUP 3: 166.33 Low May 21 2019
  • SUP 4: 165.94 Low May 10 2019

Bund futures remain in a downtrend and have traded lower again today. The break this week of support at 168.21, Oct 12 low resumes the downtrend and paves the way for weakness towards 167.79 next, a Fibonacci projection and 167.52, the Mar 19, 2020 low on the continuation chart. Moving average signals continue to point south, reinforcing current trend conditions. Initial key resistance is seen at 169.92, the Oct 14 high.