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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) Attempting Higher But 118-220/118-247 Still Caps
*RES 4: 118-310/320 Apr 17, May 18 highs
*RES 3: 118-247 Jun 14 high
*RES 2: 118-220/227 Aug 11, Aug 18 highs
*RES 1: 118-205 Aug 21 high
*PRICE: 118-160 @0956GMT
*SUP 1: 118-090/105 7 week rising support line, Aug 17 low
*SUP 2: 118-052/057 61.8% of 117-265/118-227, Aug 16 low
*SUP 3: 118-010/012 Aug 1 low, 76.4% Fibo of 117-265/118-227
*SUP 4: 117-265 Jul 25 low
*COMMENTARY* Another attempt to the topside on Friday, pulling up in the midst
of the next 118-220/118-247 resistance area. Still need to sustain a break
through here before the overall bias can switch to higher again and a renewed
challenge to the Apr/May highs at 118-310/118-320. In the meantime, look to
118-105/118-090 for support, loss of the latter would spoil the look of the
recent recovery and put the 118-057/118-052 region back under pressure.
US 10YR FUTURE TECHS: (U17) Rally Falters Around 5 Week Channel Top
*RES 4: 127-275 1% volatility band
*RES 3: 127-080 Jun 14 high
*RES 2: 127-015/045 Aug 18 high, 5 week bull channel top 
*RES 1: 126-290/297 Aug 21 high, hourly resistance
*PRICE: 126-215 @1000GMT
*SUP 1: 126-165/180 Hourly support
*SUP 2: 126-110 Aug 17 low
*SUP 3: 126-060 Initial recovery high Aug 16, now support
*SUP 4: 126-045 5 week bull channel base
*COMMENTARY* The 125-290/125-260 area managed to remain unscathed, as the
earlier 125-320 level provided support last Wednesday. The subsequent recovery
has broken above the month's and the Jun 26 highs at 126-280/126-290. Will have
to find the further strength for a sustained break above here however, before
the confidence in the upside will be restored and the chance of a further
127-045/127-080 rise. Support rises to 126-180/126-110.
US 30YR FUTURE TECHS: (U17)  Rally Still Below 1% Volatility Band
*RES 4: 158-15 2% volatility band
*RES 3: 157-27 38.2% Fibo of 177-11/145-26
*RES 2: 157-08 Jun 26 high 
*RES 1: 156-12/30 Aug 18 high, 1% volatility band
*PRICE: 155-29 @1003GMT
*SUP 1: 155-06 Aug 16 high, now support
*SUP 2: 154-18 Aug 17 low
*SUP 3: 154-10 Initial rally high Aug 16, now support
*SUP 4: 153-24 Aug 15 low
*COMMENTARY* Found support from above the 153-16/153-17 area last Wednesday and
the subsequent recovery has been impressive, moving above the key 155-29 level
in the process. This now removes any lingering threat from the 'Doji' candle
close on Aug 11. That said, will face resistance from the upper 1% volatility
band at 156-30 next and a sustained break here is needed, before the Jun 26 high
at 157-08 and the longer term Fibo retrace at 157-27 come into view.
     US EURODOLLAR TECHS: (Z17) 98.580-98.590 Resistance Again The Interest Here
*RES 4: 98.655 May 18 high
*RES 3: 98.630 Jun 14 high
*RES 2: 98.610 Jun 6 high
*RES 1: 98.580/590 Jul 14, Jun 16 highs
*PRICE: 98.565 @1005GMT
*SUP 1: 98.535/545 Hourly support
*SUP 2: 98.515 Initial recovery high Jul 6, now support
*SUP 3: 98.495 Jul 6 low, 50% of 98.335-98.655
*SUP 4: 98.470 Apr 23 low
*COMMENTARY* Finally saw some near term movement with the rally back above
98.560-98.565 resistance earlier this month. Now looking to see if this bounce
has the impetus to trouble the next 98.580-98.590 area. Through the latter
needed before we reach more important levels between 98.610-98.630. As a result,
nearest support has risen to 98.535-98.545, with the 98.515 level still seen as
key on the downside.
--MNI London Bureau;tel: +44 207-862-7495; email: les.castell@marketnews.com
[TOPICS: MTABLE]
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