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(M9) Gunpowder dry ahead of.....>

US 5YR FUTURE TECHS
US 5YR FUTURE TECHS: (M9) Gunpowder dry ahead of the Fed
*RES 3: 115-14 50% 119-01-111-26
*RES 2: 115-122 Jan 3 ytd high
*RES 1: 115-047 Mar15 high
*PRICE: 115-002 @ 10:04 GMT, Mar 20
*SUP 1: 113-282/20 100-dma/50% 111-277-115-122
*SUP 2: 113-167 200-dma
*SUP 3: 112.20/25 Series of previous lows
The Tuesday session saw the week's lowest levels so far printed down at 114-252,
but any further downside remains muted with markets keeping their powder dry
ahead of the Wednesday Fed decision. Mar15 highs remain the target for bulls, a
level that never really came into play Monday after a more muted session.
Nonetheless, the 5-yr future's ability to hold recent gains keeps near-term
momentum pointing to the upside and a break above 115-047 would open the Jan 3
ytd high & 50% retracement level at 115-122/14. A downside break of the 50-dma
is needed to return focus to the 100-dma & 50% retracement at 113-282/20.

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