BTP: Italian 10yr Yield targets the 2025 low
- A quick Yield update for the Italian 10yr, as just pointed out the Futures contracts had a quick test above the 2025 high, albeit some ~10 ticks off the high in the IKU5 now.
Today, reference 120.90, the 2025 low in Yield isn't too far:
- 3.427% = 121.29.
(Chart source: MNI/Bloomberg).
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USDCAD TECHS: Southbound
- RES 4: 1.4415 High Apr 1
- RES 3: 1.4296 High Apr 7
- RES 2: 1.4066 50-day EMA
- RES 1: 1.3914 20-day EMA
- PRICE: 1.3821 @ 08:04 BST May 6
- SUP 1: 1.3760 Low May 2 and the bear trigger
- SUP 2: 1.3744 76.4% retracement of Sep 25 ‘24 - Feb 3 bull run
- SUP 3: 1.3696 Low Oct 10 2024
- SUP 4: 1.3643 Low Oct 9 ‘24
Bearish conditions in USDCAD remain intact. A fresh cycle low last Friday reinforces the bearish theme signalling scope for a continuation, near-term. Potential is seen for a move towards 1.3744, a Fibonacci retracement. Note that Moving average studies are in a bear mode position, highlighting a dominant downtrend. On the upside, first resistance to watch is 1.3914, the 20-day EMA.
SONIA: Call Condor
SFIZ5 96.50/96.40/96.30/96.15c condor, bought for 0.25 in 4k.
AUDUSD TECHS: Bulls Remain In The Driver’s Seat
- RES 4: 0.5682 High Nov 12 ‘24
- RES 3: 0.6550 61.8% retracement of the Sep 30 ‘24 - Apr 9 bear leg
- RES 2: 0.6528 High Nov 29 ‘24
- RES 1: 0.6494 High May 05
- PRICE: 0.6456 @ 07:58 BST May 6
- SUP 1: 0.6366/6327 20- and 50-day EMA values
- SUP 2: 0.6275 Low Apr 14
- SUP 3: 0.6181 Low Apr 11
- SUP 4: 0.6116 Low Apr 10
AUDUSD traded higher Monday and a bullish theme remains intact. The recent breach of 0.6450, the Apr 29 high, marks the end of the recent pause in the bull cycle and confirms a resumption of the uptrend. Note that moving average studies are in a bull-mode position, highlighting an uptrend. Sights are on 0.6528, the Nov 29 ‘24 high. Initial key support to monitor is 0.6327, the 50-day EMA.
