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Free Access(Z17) 163.10 Break Sees Focus Switch.....>
BUND TECHS: (Z17) 163.10 Break Sees Focus Switch Higher Again
*RES 4: 164.40 76.4% Fibo of 165.69-160.24
*RES 3: 163.99 1.618 swing of 163.32-162.24
*RES 2: 163.63 Nov 8 high
*RES 1: 163.30/32 Nov 22, Nov 28 highs
*PRICE: 162.87 @0949GMT
*SUP 1: 162.70/80 Hourly support
*SUP 2: 162.52 Hourly base Nov 30
*SUP 3: 162.24 Nov 30 low
*SUP 4: 161.86/91 61.8% of 160.76-163.63, Nov 14 low
*COMMENTARY* The move above 163.10 has switched the near term bias back to the
topside and focus again on the 163.30-163.32 area, that capped rallies at the
back end of last month. Through here and attention switches to the Nov 8 high at
163.63, basically a 61.8% Fibo retrace of the 165.69-160.24 fall seen earlier in
the year. Meanwhile, support comes from 162.80-162.70 and then more importantly
162.52. Through 163.63 and the swing target at 163.99 bars the way to 164.40.
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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.