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Forex Flash: Bund correction over for now – RBS

FXstreet.com (Barcelona) - According to Technical Strategist Dmytro Bondar at RBS, “Recent price action for Bunds suggests price charts, suggesting the correction is over for now. The selloff however brought quite a significant damage to the charts, taking off the 145.46/50 support on close and moving the price beneath 20-day MA.”

Meanwhile, “the slow stochastic has a bearish divergence with the price action – long-term negative signal. For the near term though, the inside session suggests the market should be bullish today, most likely reaching the 146.23 resistance region, where the 20-day MA also lies. A sustained recovery would make the 146.80/93 area targeted for next few days.” Bondar adds.

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