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‌‌(H2)‌‌ Stabilises at Support

US 10YR FUTURE TECHS
  • RES 4: 131-19 High Dec 20 and key resistance
  • RES 3: 130-18+/28+ High Dec 31 / High Dec 22
  • RES 2: 129-31 Low Dec 8 and a recent breakout level
  • RES 1: 129-00/19 High Jan 6 / High Jan 4
  • PRICE: 128-06+ @ 15:54 GMT Jan 7
  • SUP 1: 128-05 1.618 proj of the Dec 20 - 29 - 31 price swing / Low Jan 7
  • SUP 2: 128-00 Psychological round number
  • SUP 3: 127-30 1.764 proj of the Dec 20 - 29 - 31 price swing
  • SUP 4: 127-18+ 2.00 proj of the Dec 20 - 29 - 31 price swing

Treasuries remain soft, reversing a very brief spell of strength following the NFP release. This emboldens the short-setting seen since the break of key support at 128-22+, the Nov 22 low. The break strengthens bearish conditions and the focus is on the 128-00 psychological handle next. Moving average conditions remain bearish and this reinforces the current broader downtrend. Initial resistance is seen at 129-19, the Jan 4 high. Short-term gains would likely be corrective in nature.

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