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(H0) Fed Net Positive *RES.....>
US 10YR FUTURE TECHS: (H0) Fed Net Positive
*RES 3: 130-16 61.8% of the Oct 7 - Nov 7 decline
*RES 2: 130-04+ High Dec 3 and bull trigger
*RES 1: 129-14+ High Dec 6
*PRICE: 129-09 @ 20:40 GMT, Dec 11
*SUP 1: 128-21 Low Dec 6
*SUP 2: 128-14+ 76.4% retracement of the Nov 7 to Dec 3 rally
*SUP 3: 128-11+ Low Nov 13
10yr futures found some support following the generally dovish Fed decision.
Nonetheless, the rally fell short of spilling above the 129-14+ resistance. As
such, a bearish focus remains in place following the sell-off that unfolded off
the Dec 4 high last week. This resulted in a low print of 128-21 on Dec 6 and
marked a breach of former support at 128-23+, Dec 2 low essentially negating the
bullish implications of the bounce between Dec 2 and Dec 3. This break lower has
exposed 128-14+ next, 76.4% retracement of the Nov 7 to Dec 3 rally.
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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.