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STIR FUTURES

Dipping Below 100bps For Next Two Fed Meetings

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US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (M0) Underlying Bullish Theme Remains Intact
*RES 3: 140-24 High Mar 9 and key contract high
*RES 2: 140-00 Round number resistance
*RES 1: 139-22 High Apr 22
*PRICE: 138-29 @ 16:13 BST, May 5
*SUP 1: 138-17 Low Apr 17 and Low Apr 28
*SUP 2: 137-16 Low Apr 7 and key near-term support
*SUP 3: 136-29+ Low Mar 24
10yr futures held their ground Tuesday after inching lower in US hours Monday.
Overall though, the technical picture continues to highlight a bullish theme.
The recovery from 137-16 on Apr 7 is a positive development. The move higher
marked a bounce off support highlighted by the 20-day EMA and price for the most
part continues to hold above the average. The focus is on 140-00 and the
contract high of 140-24 from Mar 9. Key S/T support is at 137-16, Apr 7 low.
Initial support is at 138-17.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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