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Forex Flash: Bunds fall below 200-day MA– RBS

By FXstreet.com,  January 11, 2013, 05:16:00 AM EDT

FXstreet.com (Barcelona) - According to Technical Markets Strategist Dmytro Bondar at RBS, "Bunds did not sustain the price yesterday above the 143.14 pivot point and sold off on a high volume post ECB, marking the technical picture quite grimly in the shot term - a new low and opening below the 200-day MA, pointed to more weakness. "

As such, "Important levels on the downside lie at 142.18, onto 141.74 and 141.26, which are Fibonacci retracements from the July 2012 impulse wave and projections from the recent selloff. The first level should provide a decent support however."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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