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Forex Flash: US 10-year treasuries overbought? – RBS

FXstreet.com (Barcelona) - The market continues to see a 1.72% to 2.15% range in 10-year US treasuries, perhaps persisting through Q2. According to the RBS Research Team, “Key resistance remains 2.15% in 10-years while near-term support is now 1.80% - our bias remains to modestly lower yields in the medium-term because positioning is favorable and medium term charts are now bullish. Short-term momentum is getting a bit overbought but hasn't rolled yet.

Overnight the focus was on the BoJ, as their aggressive monetary actions spurred a 2.5% weakening in the yen, a 2.2% rally in the Nikkei, and Japanese 10yr yields reach an all time low of 0.446%. Total Treasury inter-dealer broker volume was up a staggering 169% of the 10-day average.

Forex: EUR/USD in session highs above 1.2880

The shared currency keeps pushing higher on Thursday, eyeing the key 200-day moving average in the area around 1.2890/95 as buying interest persists....
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Forex Flash: Short EUR/USD under 1.3020 – Westpac

According to Global FX Strategist Sean Callow at Westpac, “We are short the EUR/USD at 1.3020. Key longer term moving averages around 1.2900 should stymie the topside but we are nevertheless inclined to tighten stops here (to 1.2950)” – EZ markets are proving resilient to both Italy’s political deadlock and the precedent set in Cyprus for higher levels of private sector risk ownership in the region’s banking system.
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