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MNI US Morning Fixed Income Technical Analysis 

By Les Castell
     Click below for today's MNI US Morning FI Technical Analysis Report -
http://tinyurl.com/h8pyhnq
US 5YR FUTURE TECHS: (U17) 117-295 Support The Key To Any Continued Recovery
*RES 4: 118-247/250 Jun 14 high, Median line Mar & May lows
*RES 3: 118-140/145 Jun 26 high, 76.4% of 118-247/117-132
*RES 2: 118-095/097 Jul 24, Jul 21 highs
*RES 1: 118-072 Jul 26 high
*PRICE: 118-042 @1005GMT
*SUP 1: 117-295/302 Hourly support, Jul 28 low
*SUP 2: 117-265/270 Jul 25 low, initial rally high Jul 13
*SUP 3: 117-235 Jul 13 low
*SUP 4: 117-200 76.4% Fibo of 117-132/118-097
*COMMENTARY* Found support from the upper end of the 117-265/117-200 support
band, before seeing a decent rebound, which moved slightly above 118-060. So
far, this has been short lived but the near term recovery bias stays intact
while any pullbacks can hold above 117-295. Main resistance however, remains
from the months 118-095/097 highs, these the bar to a 118-140/145 rise. Loss of
117-295 will caution and put 117-265 under pressure again.
US 10YR FUTURE TECHS: (U17) 125-155 Support Survives Pressure Last Friday
*RES 4: 126-215 76.4% Fibo of 127-080/124-255
*RES 3: 126-115/120 Jun 19 low, Jul 21 high
*RES 2: 126-065 Jul 25 high
*RES 1: 126-020 Jul 26 high
*PRICE: 125-290 @1010GMT
*SUP 1: 125-175 Jul 28 low
*SUP 2: 125-155 Jul 25 low
*SUP 3: 125-125/130 Congestion area Jul 12-13
*SUP 4: 125-085 Jul 13 low
*COMMENTARY* The fall was held at 125-155 last Tuesday, a sharp rally on
Wednesday producing a 126-020 bounce so far. Will need to see gains back above
126-065 however, before the near term bias will return to higher again and
refocus on the 126-115/126-120 area. Support in the meantime, rises to
125-175/125-155 and ideally this now withstands any pressure if the recovery has
not been in vain. Loss will disappoint now.
US 30YR FUTURE TECHS: (U17) 152-03 Support Survives A Double Testing
*RES 4: 155-02 61.8% of 157-08/151-18, 1% volatility band 
*RES 3: 154-31 Jul 21 high
*RES 2: 154-11 Jul 25 high
*RES 1: 153-21 Hourly resistance
*PRICE: 153-03 @1023GMT
*SUP 1: 152-03 Jul 27-28 lows
*SUP 2: 151-28/30 Jul 13 low, 1% volatility band
*SUP 3: 151-18 Jul 7 low
*SUP 4: 151-08 76.4% Fibo of 149-00/157-08
*COMMENTARY* Unable to break above the 61.8% Fibo retrace level at 155-02, a
high of 154-31 seen before falling foul of some overbought conditions. This has
been exacerbated by the loss of 153-11 support, a further fall to test and break
the 76.4% Fibo retrace level at 152-12 already seen. 152-03 is currently the
protection against a 151-28/151-18 return. In the interim, 153-21 and then more
importantly 154-11 provide resistance.
     US EURODOLLAR TECHS: (Z17)  98.515 Still Provides Key Near Term Support
*RES 4: 98.630 Jun 14 high
*RES 3: 98.610 Jun 6 high
*RES 2: 98.580/590 Congestion lows May 19-Jun 8, Jun 16 high
*RES 1: 98.560/565 Hourly resistance
*PRICE: 98.550 @1025GMT
*SUP 1: 98.515 Initial recovery high Jul 6, now support
*SUP 2: 98.495 Jul 6 low, 50% of 98.335-98.655
*SUP 3: 98.470 Apr 23 low
*SUP 4: 98.455 61.8% Fibo of 98.335-98.655
*COMMENTARY* Found support from the 50% Fibo retrace level at 98.495 earlier in
the month, a recovery has reached the base of the 98.580-98.590 resistance area.
As a result, has become overbought in the near term and now giving back some of
those gains. In this respect, look to 98.515 for support and protection against
a return of the previous downtrend and 98.495 again. Resistance now from
98.560-98.565 ahead of 98.580-98.590 again.
--MNI London Bureau;tel: +44 207-862-7495; email: les.castell@marketnews.com
[TOPICS: MTABLE]
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