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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: (Z17) Key 117-280/117-272 Gives Way, 117-180/117-170 Next
*RES 4: 118-132 Sep 13 high
*RES 3: 118-060 Sep 13 low, now resistance
*RES 2: 118-010 Sep 19 high
*RES 1: 117-280 Sep 19 low, now resistance
*PRICE: 117-220 @1015GMT
*SUP 1: 117-170/180 Jul 25 low, 76.4% Fibo of 117-035/119-015
*SUP 2: 117-132/147 Jul 6 low, 61.8% Fibo of 116-155/119-015
*SUP 3: 117-020 76.4% Fibo of 116-155/119-015
*SUP 4: 116-305 1% volatility band
*COMMENTARY* The fall continues, moving below the key 117-280/117-272 area on
Wednesday. The decline now extends towards the next region of importance from
between 117-180/117-170. Has become oversold in the near term but resistance now
from that 117-280 level and then yesterday's 118-010 high, now become the
stumbling block to any successful recovery attempts. Lose 117-170 and look to
117-147/117-132 next.
US 10YR FUTURE TECHS: (Z17) Fresh Fall Sees 125-175/125-155 As Next Support
*RES 4: 126-250 Sep 13 high
*RES 3: 126-180 Sep 14-15 highs
*RES 2: 126-055/060 Sep 20 high, broken support line
*RES 1: 125-300 Sep 19 low, now resistance
*PRICE: 125-210 @1026GMT
*SUP 1: 125-170/175 Sep 20, Aug 8 lows
*SUP 2: 125-155 Jul 25, Jul 26 lows
*SUP 3: 125-055 50% Fibo of 122-145/127-285
*SUP 4: 125-035 1% volatility band
*COMMENTARY* Broke below the base of the 9 week bull channel last week, and now
clearly below the 6 month rising support line, at 126-060 by time today. Lost
further support from 125-240/125-215 on Wednesday, now leaving the
125-175/125-155 region to deal with immediate pressure. In the meantime, look to
125-300 and then that broken support line at 126-060/126-180 for resistance.
Back above the latter now needed for any successful recovery hopes.
US 30YR FUTURE TECHS: (Z17) 153-16/153-05 Next Area Of Support As Fall Continues
*RES 4: 156-02 Sep 12 high
*RES 3: 155-15 Sep 15 high
*RES 2: 155-00 Sep 18 high
*RES 1: 154-12/18 Hourly resistance
*PRICE: 153-25 @1035GMT
*SUP 1: 153-14/16 1% volatility band, Sep 20 low
*SUP 2: 153-05 76.4% Fibo of 151-18/158-09
*SUP 3: 152-03 Jul 27, Jul 28 lows
*SUP 4: 151-29 2% volatility band
*COMMENTARY* Last week saw the the loss of both 156-07 support and the rising
support line from the late July lows. This followed by the key 154-30 level on
Thursday. Yesterday we lost the next important level from 154-04, the 61.8% Fibo
retrace level. This now leaves 153-16/153-14 as the near term protection against
a further 153-05 fall. In the meantime, resistance falls to 154-12/154-18,
presently require a move back above 155-00 however, to ease pressure.
US EURODOLLAR TECHS: (Z17) Six Month Rising Support Line Break Targets
98.495
*RES 4: 98.635 Sep 8 high
*RES 3: 98.600/610 Aug 29 high, Sep 8 low
*RES 2: 98.580 Broken 6 month support line
*RES 1: 98.540/545 Sep 14 low, Sep 20 high
*PRICE: 98.510 @1053GMT
*SUP 1: 98.495 Jul 6 low, 50% Fibo of 98.335-98.655
*SUP 2: 98.470 Apr 24 low
*SUP 3: 98.455 61.8% Fibo of 98.335-98.655
*SUP 4: 98.410 76.4% Fibo of 98.335-98.655
*COMMENTARY* Failed to take advantage of the break above 98.590/98.600 earlier
in the month, a high of 98.635 before giving up ground again. This culminated in
a drop below the 6 month rising support line last Thursday. This suggests that
there is initially scope for a return towards the Jul 6 low at 98.495. In the
interim, nearest resistance comes from 98.540-98.545 and then the broken support
line at 98.580. Below 98.495 and 98.455 is next attraction.
--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.