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Technical Update - Euro Bund range bound but ECB rate decision likely to change that

Commodities 2 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

The European 10-years Interest Rate future Euro Bund is range bound between 149.75 and 153.50.  However, all that can change later today when ECB announce their rate decision. Will they hike and with how much?
If Euro Bund breaks out to the upside there is resistance at 156. It is a key resistance. A daily close above can change the past few moves from being corrective to be in an uptrend. An uptrend with resistance at 159.80

If it breaks below 149.75 Euro Bund is to resume the down trend meaning higher yields. Support at 145.

Euro d 21 julBund
Source: Saxo Group

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