Free Trial

(M3) Bias Remains Higher Despite Friday Dip

US 10YR FUTURE TECHS
  • RES 4: 118-00 Round number resistance
  • RES 3: 117-29+ High Aug 26 2022 (cont)
  • RES 2: 117-01+ High Mar 24 and bull trigger
  • RES 1: 117-00 High May 4
  • PRICE: 115-25+ @ 15:48 BST May 5
  • SUP 1: 115-13+ Low May 5
  • SUP 2: 115-07+ 20-day EMA
  • SUP 3: 114-10 Low May 1
  • SUP 4: 113-30+ Low Apr 19 and key short-term support

Treasury futures broke lower Friday on the back of the better-than-expected payrolls release, however major support remains in tact for now. This keeps the outlook bullish and attention is on key resistance at 117-01+, the Mar 24 high and bull trigger. A break of this hurdle would strengthen current trend conditions. Initial firm support is at 115-07+, the 20-day EMA. Key support is far-off at 113-30+, the Apr 19 low. Short-term pullbacks are considered corrective.

To read the full story

Close

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.