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Core PCE Stalling Ahead Of June Fed Meeting


BLOCK, 5Y Sale


Pullback Considered Corrective


Limited Upside Dec Fly


Downtrend Remains Intact

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(M1)‌‌ Remains Vulnerable

  • RES 4: 133-13+ 50-day EMA
  • RES 3: 133-00+/06+ High Mar 11 and key resistance / High Mar 4
  • RES 2: 132-09/09+ High Mar 17 and Mar 24
  • RES 1: 131-31+ Mar 29 high
  • PRICE: 131-03+ @ 11:43 GMT Apr 1
  • SUP 1: 130-26 Low Mar 30
  • SUP 2: 130-15/07 Lower 3.0% Bollinger Band / Low Feb 2, 2020
  • SUP 3: 129-19 Low Jan 24, 2020 (cont)
  • SUP 4: 128-29 Low Jan 17, 2020 (cont)

US 10y futures resumed their downtrend this week with a break of former support and trend low at 131-00, Mar 18 low. This move lower clears the way for 130-07 and the psychological 130-00 handle. This also maintains the bearish sequence of lower lows and lower highs and together with bearish moving average conditions, reinforces the current sentiment reading. Key resistance is at 132-09+, Mar 25 high.

MNI London Bureau | +44 203-586-3805 |
MNI London Bureau | +44 203-586-3805 |

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