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Free AccessMNI 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) Key 118-140/118-145 Resistance Untouched As Yet
*RES 4: 118-247 Jun 14 high
*RES 3: 118-140/145 Jun 26 high, 76.4% of 118-247/117-132
*RES 2: 118-127 Aug 3 high
*RES 1: 118-092/105 Hourly resistance
*PRICE: 118-050 @0949GMT
*SUP 1: 118-035 Aug 4 low
*SUP 2: 118-010 Aug 1 low
*SUP 3: 117-302 Jul 28 low
*SUP 4: 117-265 Jul 25 low
*COMMENTARY* Unable to progress further than 118-127 last week, leaving the more
important 118-140/118-145 area untouched for the time being. The subsequent
pullback has again met with support from the top of the 118-035/118-010 area and
this currently protects against a deeper 117-302 fall, where bigger questions
are asked of this recovery. In the meantime, 118-092/118-105 bars the way to
another upside foray toward that key 118-140/118-145 area.
US 10YR FUTURE TECHS: (U17) 125-275/125-215 Offers Downside Protection Now
*RES 4: 126-290 Jun 26 high
*RES 3: 126-215 76.4% Fibo of 127-080/124-255
*RES 2: 126-150 Aug 3 high
*RES 1: 126-080/105 Hourly resistance
*PRICE: 125-310 @0957GMT
*SUP 1: 125-290 Aug 4 low
*SUP 2: 125-275 9 day rising support line
*SUP 3: 125-215 Aug 1 low
*SUP 4: 125-155 Jul 25 low
*COMMENTARY* A high of 126-150 last week as the rally faltered without as yet a
test to the key Fibo resistance at 126-215. The subsequent pullback has
lostsupport from the Aug 2 low at 125-310 but has further levels situated
between 125-275/125-215, that protect against anything more untoward at present.
Resistance from between 126-080/126-105 now needs to be navigated before near
term upside belief is revived.
US 30YR FUTURE TECHS: (U17) Rally Falters At The Upper 1% Volatility Band
*RES 4: 156-19 2% volatility band
*RES 3: 155-29 76.4% Fibo of 157-08/151-18
*RES 2: 155-02/10 1% volatility band, Aug 4 high
*RES 1: 154-22/30 Hourly resistance
*PRICE: 154-01 @1007GMT
*SUP 1: 153-22 Aug 4 low
*SUP 2: 153-16/17 Jul 31 high, Aug 2 low
*SUP 3: 152-24/29 Congestion area Jul 28-Aug 1
*SUP 4: 152-09 Aug 1 low
*COMMENTARY* Rally was tempered at 155-10 last week by the upper 1% volatility
band, this has fallen to the slightly lower 155-02 level today. The subsequent
fall has reached 153-22 so far but stronger support is anticipated from 153-16
initially and then the congested 152-24/152-29 area. Will need to lose the
latter before more important support from 152-09/152-03 comes under the
spotlight. Meanwhile, look to 154-22/154-30 for 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: 98.535 @1009GMT
*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]
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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.