Chart of the Day – German Bund – (September 19th, 2023)

The German Bund has finally broken support in the bearish channel and targets the 127% extension of the March 2023 impulsive move higher. Following the ECB last week, and ahead of the FOMC this week, we have yields rallying in the USA with the 10yr note falling alongside the bunds as traders are nervous ahead of the decision. RSI in the Bunds are pointing lower confirming the bearishness.

Blake Morrow

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