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) Focus On 118-140/118-145 Next As Rally Continues

*RES 4: 118-295 Median line off Mar & May lows

*RES 3: 118-247 Jun 14 high

*RES 2: 118-140/145 Jun 26 high, 76.4% of 118-247/117-132

*RES 1: 118-127 Aug 3 high

*PRICE: 118-105 @1013GMT

*SUP 1: 118-062/075 Hourly support

*SUP 2: 118-035/042 Congestion Jul 26-31, Aug 2 low

*SUP 3: 118-010 Aug 1 low

*SUP 4: 117-302 Jul 28 low

*COMMENTARY* 117-295 support remained intact, having survived a 117-302 pullback

last Friday. The subsequent recovery has now found the wherewithal for a move

back above both 118-072, and the late July highs at 118-095/118-097. This now

brings the 118-140/118-145 area back into the picture, as the remaining bar to

the Jun 14 high at 118-247. Support also continues to rise, 118-075/118-035 now

the near term protection to the downside.

US 10YR FUTURE TECHS: (U17) Gearing Up For Test Of 76.4% Fibo Retrace Level

*RES 4: 127-080/085 Jun 14 high, 1% volatility band

*RES 3: 126-290 Jun 26 high

*RES 2: 126-215 76.4% Fibo of 127-080/124-255

*RES 1: 126-150 Aug 3 high

*PRICE: 126-110 @1020GMT

*SUP 1: 126-020/025 Hourly support

*SUP 2: 125-310 Aug 2 low

*SUP 3: 125-215 Aug 1 low

*SUP 4: 125-155 Jul 25 low

*COMMENTARY* Still chipping away at resistance, most latterly above the key

126-115/126-120 region. A high of 126-150 so far, before again some near term

overbought conditions have come into play. In this respect, look to

126-025/125-310 to form support now and protection against any deeper corrective

potential. Directly above 126-150 and the next main attraction remains the 76.4%

Fibo retrace level at 126-215.

US 30YR FUTURE TECHS: (U17) Fibo Retrace Level At 155-29 The Next Attraction

*RES 4: 157-08 Jun 26 high

*RES 3: 156-22 2% volatility band 

*RES 2: 155-29 76.4% Fibo of 157-08/151-18 

*RES 1: 155-05/10 1% volatility band, intraday high

*PRICE: 154-31 @1031GMT

*SUP 1: 154-08/18 Hourly support, Aug 2 high

*SUP 2: 153-30 Hourly base Aug 2

*SUP 3: 153-16/17 Jul 31 high, Aug 2 low

*SUP 4: 152-24/29 Congestion area Jul 28-Aug 1

*COMMENTARY* Have now seen a break above 154-11 and the continued rise on

Thursday has negated the potential effect of the small 'Doji' candle close on

Wednesday. Have already popped above the 61.8% Fibo retrace level at 155-02, a

high so far of 155-10, as we move towards the next resistance of note from the

76.4% Fibo level at 155-29. Support meanwhile, comes from 154-18/154-08 but only

back below 153-30 will cause near tern concern.

     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: 98.555 @1034GMT

*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

last 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]