Forex Flash: Bunds find support at 200-day MA – RBS

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FXstreet.com (Barcelona) - Bunds found support at the 200-day moving average ( MA ) and the 61.8% Fibonacci retracement form the September 2012 - December 2012 extremes, as the price reached a trough of the 27-day cycle (reference points of 20/08/12 and 14/09/12).

"At the same time, most of the oscillators showed positive divergence in or near the oversold regions. The net conclusion is a likely continuation of the price recovery. However, in the near term, the 143.86 retracement would be likely to be an obstacle, Hence, a range of 143.14 - 143.86 is a short- term bias with resistance breakout triggering a move to 144.42 (50-DMA) and 144.74." notes Dmytro Bondar, a technical markets strategist at RBS.



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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