Forex Flash: Bunds target trendline resistance – RBS

FXstreet.com (Barcelona) - Bund prices are testing the trendline and 13-day moving average, which all lie very close to the 145.46 level, being the 150% Fibonacci projection from the February-March impulse wave. According to Technical Strategist Dmytro Bondar at RBS, “This is an important point, as if the breakout is confirmed on close, it would suggest a change in market sentiment. The first support lies at 145.11, then 144.68. Below that a major support level would be 144.00. A close above the trendline would bring hopes for the bulls.”