EURGBP TECHS: Reverses Recent Recovery
- RES 4: 0.9097 76.4% Retracement of the Sep 26 - Dec 1 bear leg
- RES 3: 0.9047 2.0% 10-dma envelope
- RES 2: 0.8992 61.8% Retracement of the Sep 26 - Dec 1 bear leg
- RES 1: 0.8979 High Feb 3 and the bull trigger
- PRICE: 0.8797 @ 07:41 GMT Feb 23
- SUP 1: 0.8784 Low Feb 22
- SUP 2: 0.8770 1.0% 10-dma envelope
- SUP 3: 0.8762 Low Jan 30
- SUP 4: 0.8722 Low Jan 19 and a reversal trigger
EURGBP reversed lower into the Tuesday close, harming the recent bullish outlook. The intraday break below 0.8804 is bearish, and a close below here opens further weakness. 0.8770 vol band support could provide initial support ahead of 0.8762. Nonetheless, moving average studies remain in a bull-mode position, highlighting an underlying uptrend.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EUROZONE ISSUANCE: 3.00% Mar-53 EU-bond
- Size: E5bln (WNG) TAP
- Guidance MS+88A
- Settlement: 31 January 2023 (T+5)
- Maturity: 4 March 2053
- Current o/s: €2.5bn
- Tap size: €5bn (Will Not Grow)
- Guidance: MS+88bps area
- JLMs: BNPP / JPM(DM/B&D) / NWM / NOMURA / UNICREDIT
- ISIN: EU000A3K4DY4 (immediately fungible)
GILTS: Opening calls
Gilt opening calls, range 104.26/104.42, would give a 104.34 mid.
AUDUSD TECHS: Bullish Trend Sequence Intact
- RES 4: 0.7200 Round number resistance
- RES 3: 0.7137 High Aug 11
- RES 2: 0.7063 High Jan 18
- RES 1: 0.7063 High Jan 18 and the bull trigger
- PRICE: 0.7037@ 07:55 GMT Jan 24
- SUP 1: 0.6891 20-day EMA
- SUP 2: 0.6792 50-day EMA
- SUP 3: 0.6688 Low Jan 3 and key support
- SUP 4: 0.6650 Low Dec 22
AUDUSD traded higher Monday but remains below last Wednesday’s high of 0.7063. Recent short-term weakness is considered corrective and the 3-month uptrend remains intact. Support to watch lies at 0.6891, the 20-day EMA. A break of this average would signal scope for a deeper pullback and potentially open 0.6792, the 50-day EMA. Clearance of resistance at 0.7063 would confirm a resumption of recent bullish activity.
