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7. Forex Flash: Bunds remain consolidated in 142.18/95 range – RBS
According to Technical Markets Strategist Dymtro Bondar at RBS, “The view on Bunds remains the same, as the price consolidated within the 142.18 – 142-95 range after testing the 142.95 resistance, being the 50% retracement from the July 2012 impulse wave on a continuation chart, closing the 142.50 bearish gap from 28 January 2013.”
“This suggests more recovery towards 143.70 will be likely after breaking the range. In addition, the 10/3/3/3 slow stochastic is turning positive from the oversold region, confirming the view. A primary caveat would be a sustained break below 141.93. Overall however, we favor buying dips near the 142.18/25 support region to 142.90 onto 143.30 and 143.70.” Bondar recommends.