GILTS: Opening calls

Gilt Opening call, 92.25.

• Also regarding the timing for the SETT price window, this should happen at 12:13-12:15 (GMT) for Futures and Options.

• RES 4: 0.6471 High Dec 9
• RES 3: 0.6435 50-day EMA               
• RES 2: 0.6384 High Dec 13   
• RES 1: 0.6274/6313 Low Dec 20 / 20-day EMA
• PRICE: 0.6224 @ 07:50 GMT Dec 31
• SUP 1: 0.6199 Low Dec 19 
• SUP 3: 0.6158 1.236 proj of the Sep 30 - Nov 6 - 7 price swing
• SUP 3: 0.6100 Round number support 
• SUP 4: 0.6045 1.500 proj of the Sep 30 - Nov 6 - 7 price swing

AUDUSD bears remain in the driver’s seat and the pair continues to trade closer to latest lows. Recent weakness maintains the price sequence of lower lows and lower highs. Note that moving average studies are in a bear-mode position too, highlighting a dominant downtrend. Scope is seen for an extension towards 0.6158 next, a Fibonacci projection. Initial firm resistance to monitor is 0.6313, the 20-day EMA.

• The Dollar is mixed against G10 going into the last day of the Year, the Yen is up 0.35% and at the other end of the spectrum the Kiwi is down 0.28% at least for Today.
• Overall the Dollar is king going into 2025, acted as a safer haven throughout the Year, and has also been supported as Desks look for Less cuts from the Fed with Donald Trump on the cusp of taking over the Presidency.
• The biggest loser in G10 YTD is the Kiwi, down some 10.9% for that period, NZDUSD printed a 0.5608 low in December, which was its lowest printed level since October 2022.
• For today, 0.5620 is holding, and market participants will be looking for initial support at 0.5600.
• The NOK is the 2nd worst performer, down 10.26%, printed its lowest level in December since March 2020.
• Main upside Psychological level is still at 11.50 in USDNOK, managed a 11.4769 high on the 20th December.