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Forex Flash: Bunds eye recovery movement to 143.70/44 – RBS

According to Technical Markets Strategist Dmytro Bondar at RBS, “Bund prices have broken the main obstacle of 143.15/18, which kicked in the inverse head and shoulders pattern, which combined with a weekly bullish engulfing suggested recovery to the next pivot points of 143.70/144.00 and 145.00.”

As such, “These levels are Fibonacci retracements and 13-week moving average – a dip to the 142.30 region, as a reaction from neckline breakout, was seen as a temporary weakness, as discussed in the latest weekly. Our primary stipulation is a sustained break below 142.00.” Bondar adds.

UK Jan Public Sector Net Borrowing improves to £-9.861B vs £12.416B (Dec)

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Forex Flash: US dollar strengthens following FOMC minutes - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that USD has continued to strengthen in the Asian trading session following the release of the latest less dovish than expected FOMC minutes, with the dollar index rising above its 200-day moving average.
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