Forex Flash: Bunds fall below 200-day MA– RBS

FXstreet.com (Barcelona) - According to Technical Markets Strategist Dmytro Bondar at RBS, “Bunds did not sustain the price yesterday above the 143.14 pivot point and sold off on a high volume post ECB, marking the technical picture quite grimly in the shot term – a new low and opening below the 200-day MA, pointed to more weakness. “

As such, “Important levels on the downside lie at 142.18, onto 141.74 and 141.26, which are Fibonacci retracements from the July 2012 impulse wave and projections from the recent selloff. The first level should provide a decent support however.”

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