Free Trial

Fails to Hold Intraday Rally

US 10YR FUTURE TECHS
  • RES 4: 117-14+ High Aug 29 / 30 2022 (cont)
  • RES 3: 117-01+ High Mar 24 and bull trigger
  • RES 2: 116-30 High Apr 5 / 6
  • RES 1: 116-08 High Apr 12
  • PRICE: 115-18 @ 15:39 BST Apr 12
  • SUP 1: 115-03 20-day EMA
  • SUP 2: 114-18 Low Apr 3
  • SUP 3: 114-11+ 50-day EMA
  • SUP 4: 114-07 Low Mar 29 and 30 and key support

Treasury futures rallied sharply on the CPI release, but failed to build from there, fading off the 116-08 high. This keeps prices well off last week’s 116-30 high, with the week’s lows of 115-06+ well within range. Key support sits below at 114-07, the Mar 29/30 low. Over the medium-term, however, a bullish theme remains intact and moving average studies highlight an uptrend. Resistance at 117-01+, the Mar 24 high, is a key short-term hurdle. A break of this level opens 117-14+, the Aug 29/30 2022 high (cont).

To read the full story

Close

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.