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Firmly Within Friday’s Range Amid Holiday Thinned Trade

US TSYS
  • Cash Tsys were closed and TYH3 sees an early close at joint session lows of 111-24+. The latter cheapened overnight in a modest push back of Friday’s bid before a very tight range on unsurprisingly minimal volumes with the US out for Presidents’ Day.
  • In doing so it remained well within Friday’s range and off its low of 111-08+ that saw it briefly clear support at 111-10 (lower 2.0% Bollinger Band) before quickly retracing. To the upside sits resistance at the 50-day EMA of 114-00+.
  • Tomorrow sees notable second tier data with the preliminary February manufacturing and service PMIs plus existing home sales for January, before perhaps greater focus on Wednesday’s FOMC Minutes.

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