FOREX: CHF Stands Out as Core CPI Works Against SNB Base Case
Feb-13 10:31
* CHF stands out among G10 FX early Thursday, rallying against all others on the back of the Janua...
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EURGBP TECHS: Bull Cycle Remains In Play
Jan-14 10:31
- RES 4: 0.8494 High Aug 26 ‘24
- RES 3: 0.8471 61.8% retracement of the Aug 8 - Dec 19 downleg
- RES 2: 0.8448 High Oct 31 and reversal trigger
- RES 1: 0.8424/29 50% of the Aug 8 - Dec 19 downleg / Intraday high
- PRICE: 0.8420 @ 10:30 GMT Jan 14
- SUP 1: 0.8321/8284 50-day EMA / Low Jan 8
- SUP 2: 0.8263 Low Dec 31
- SUP 3: 0.8223 Low Dec 19
- SUP 4: 0.8203 Low Mar 7 2022 and a major support
EURGBP maintains a firmer tone. The cross has cleared the December highs. This undermines the recent bearish theme and suggests scope for a stronger short-term recovery. Note too that 0.8376, the Nov 19 high and a key resistance, has also been cleared. Sights are on 0.8424, a Fibonacci retracement. It has been pierced, a clear break of this level would open 0.8448, the Oct 31 high. Support at the 50-day EMA is at 0.8321.
BUNDS: Bund and EGBs are still drifting lower
Jan-14 10:31
- New lows for EGBs, Bund, BTP and OAT are all testing their respective lows, BTP still outperforms on the margin.
- For the German 10yr yield, next upside target is still eyed at 2.642%, the July high, this level equated to 130.56 on Friday, 130.50 Yesterday, and it is again lower today, down to 130.47 (reference 130.68).
EGB OPTIONS: Bund call spread
Jan-14 10:21
RXH5 135/136cs bought for 4.5 in 7.5k.
