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US TSYS

Equities Weakening Ahead FOMC

(H1)‌‌ Holding Onto Recent Gains

US 10YR FUTURE TECHS
  • RES 4: 138-05+ High Jan 4
  • RES 3: 137-29+ High Jan 6
  • RES 2: 137-20+ High Jan 27
  • RES 1: 137-17+ 50-day EMA
  • PRICE: 137-15+ @ 20:33 GMT Jan 27
  • SUP 1: 136-30 Low Jan 25
  • SUP 2: 136-23+ Low Jan 21
  • SUP 3: 136-16 Low Jan 14
  • SUP 4: 136-01 Low Jan 12 and key support

Treasuries are holding onto recent gains and the outlook remains bullish. Monday's strong rally highlights an acceleration of the current upleg. Attention is on the 50-day EMA at 137-17+. A close above this average would strengthen a bullish case and set the scene for a climb towards 137-29+, the Jan 6 high. A break below the 136-30 low is required to threaten the current positive tone.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com