CZK: Koruna Struggles to Hold Onto Last Week’s Gains as EUR Weakness Weighs
* EURCZK has extended its recovery from Friday's 11-month low to 0.5%, with the dip in EURUSD back...
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BOE APF SALES RESULTS: GBP750mln of short-dated gilts with bid-to-cover of 2.18x
Previous bid-to-cover ratios: most recent first: 2.38x, 2.24x, 2.53x*, 3.22x*.
* These operations had a size of GBP800mln
EQUITY TECHS: E-MINI S&P: (M5) Monitoring Resistance At The 50-Day EMA
- RES 4: 5837.25 High Mar 25 and a bull trigger
- RES 3: 5773.25 High Apr 2
- RES 2: 5622.38 50-day EMA and a key resistance
- RES 1: 5563.00 Intraday high
- PRICE: 5561.50 @ 14:27 BST Apr 28
- SUP 1: 5355.25/5127.25 Low Apr 24 / 21 and a key support
- SUP 2: 4996.43 76.4% retracement of the Apr 7 - 10 bounce
- SUP 3: 4832.00 Low Apr 7 and the bear trigger
- SUP 4: 4760.88 1.618 proj of the Feb 19 - Mar 13 - 25 price swing
The corrective bull cycle in S&P E-Minis that started on Apr 7, remains in play. The contract traded higher last week and breached a number of important short-term resistance points. Price has cleared the 20-day EMA and pierced 5528.75, the Apr 10 high. The next key resistance is 5622.38, the 50-day EMA. A clear breach of this EMA would strengthen a bull theme. Initial key support lies at 5127.25, the Apr 21 low. A break would be bearish.
EQUITIES: US Cash Opening calls
SPX: 5,538.3 (+0.2%); DJIA: 40,235 (+0.3%/+122pts); NDX: 19,470.3 (+0.2%).
