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Free Access10-YEAR YIELD TECHS: A Close Above 3.20 May......>
US: 10-YEAR YIELD TECHS: A Close Above 3.20 May Prove Constructive
*RES 3: 3.3956 Apr 5 2011 low, now resistance
*RES 2: 3.2594 High Oct 9
*RES 1: 3.3255 Channel top
*PRICE: 3.1939 @ 16:46 GMT, Oct 19
*SUP 1: 3.1283/61 21-dma/May 18 high, now support
*SUP 2: 3.1519 Channel base/23.6% 2.8063-3.2594
*SUP 3: 3.0139 Aug 1 high, now support
The recovery of 3.20 was short-lived and a close above would prove constructive
to returning towards the channel top at 3.3255. Much of Friday trade was
contained within the week's (and Thursday's) range. The bigger picture uptrend
remains intact through with the Oct 9 high at 3.2594 acting as resistance. A
break above would extend the uptrend towards the channel top at around 3.30. For
a meaningful fall in yields, the channel base at 3.1519 would need to be
breached, opening a move towards the 3.05 level, ahead of the Aug 1 high at
3.0139.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.