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Forex Flash: Bunds walking bullish path – RBS

FXstreet.com (Barcelona) - In a sideway market, momentum oscillators become more importantly – “presently there are however mixed signals from oscillators for Bund movements, as the slow stochastic has turned bullish again despite being in overbought region, while RSI exited overbought conditions.” notes Technical Strategist Dmytro Bondar at RBS.

“In practice, it suggests the market’s likely to continue advancing while above the 20- day moving average. Support at 145.80 should limit minor pullbacks, while 145.46 and the 20-day MA are to be seen as main support/risk level. I believe there is more upside likely, targeting 146.90 and longer-term 147.63, 148.09 and 148.44. The caveat is a break below 20-day MA.” Bondar adds.

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