Euro BOBL recovery reached resistance at 125.04 and held here. We should struggle here again today with the outlook quite negative, but if we push higher look for 125.11 then a selling opportunity 125.18. If, however, we reach as far as 125.27/29, perhaps later in the week we should run in to heavy selling pressure.
Immediate support is Friday's low at 124.92/91 then last week's low at 124.82/77 could hold the downside. However if we continue lower we risk a test of February lows at 124.68.