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: (Z17) 117-192/117-225 Break Needed To Spur Recovery

*RES 4: 118-010/037 Sep 19 high, broken 6 month support line

*RES 3: 117-295 Sep 26 high

*RES 2: 117-225 Sep 29 high

*RES 1: 117-192/195 76.4% of 117-225/117-090, intraday high

*PRICE: 117-180 @0838GMT

*SUP 1: 117-090 Oct 2 low

*SUP 2: 117-020 76.4% Fibo of 116-155/119-015

*SUP 3: 116-295 Mar 17 low

*SUP 4: 116-155 Mar 10 low

*COMMENTARY* Having failed to trouble 118-010 resistance, a high of 117-295 last

Tuesday, downside pressure resumed and resulted in a fall to 117-090. This the

last protection against a greater 117-020 fall. Resistance from 117-192 but

likely need a move back above 117-225 however, before any respite will be

forthcoming and give credence to the small 'Doji' candle close on Monday and

allow for some correction of recent losses from last month's 119-015 high.

US 10YR FUTURE TECHS: (Z17) Holding Above Next Key Support Level At 124-255 

*RES 4: 126-045 Sep 25 high

*RES 3: 125-275 Congestion area Sep 22-25

*RES 2: 125-200 Sep 29 high

*RES 1: 125-170 Sep 20 low, now resistance

*PRICE: 125-140 @0904GMT

*SUP 1: 124-300 Oct 2 low

*SUP 2: 124-255 Jul 6, Jul 7 lows

*SUP 3: 124-170 61.8% Fibo of 122-145/127-285

*SUP 4: 124-095 1% volatility band

*COMMENTARY* Downside pressure continued following the reluctance to take on

126-055 resistance last week, a low of 124-300 so far, just above the next

support of note from 124-255. As a result, resistance falls as well, now

initially from 125-170/125-200 but back above the congested 125-275 region is

likely needed, before any real recovery can take place and add credence to

Monday's 'Doji' candle close.

US 30YR FUTURE TECHS: (Z17) 152-01/152-04 Support Holding Up Under Pressure

*RES 4: 156-02 Sep 12 high

*RES 3: 155-04 Sep 25 high

*RES 2: 154-11 Sep 26 low, now resistance

*RES 1: 153-07/16 Hourly resistance, Sep 20 low

*PRICE: 152-26 @0910GMT

*SUP 1: 152-01/04 Sep 28 low, 76.4% Fibo of 150-07/158-09

*SUP 2: 151-29 1% volatility band

*SUP 3: 151-18 Jul 7 low

*SUP 4: 150-18 61.8% Fibo of 145-26/158-09

*COMMENTARY* Recovery failed to make the most of the move above 155-00, stopping

at 155-04, before once again yielding to downside pressure. The subsequent fall

below the 153-16/153-12 area then stimulating a loss of the 5 month rising

support line at 152-27. This now sees 152-04/152-01 as support and protection

against a further 151-30/51-18 fall. In the interim, resistance from

153-07/154-11 now bars the way to that still important 155-04 level.

     US EURODOLLAR TECHS: (Z17) Pressure Still On Key 98.495 Support 

*RES 4: 98.635 Sep 8 high

*RES 3: 98.600/610 Aug 29 high, Sep 8 low

*RES 2: 98.595 Broken 6 month support line

*RES 1: 98.540/545 Sep 14 low, Sep 20 high

*PRICE: 98.505 @0912GMT

*SUP 1: 98.490/495 Sep 21 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

last month, a high of 98.635 before giving up ground again. This culminated in a

drop below the 6 month rising support line, which then gave the 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 98.595. Below 98.495 and

98.455 is next attraction.

--MNI London Bureau;tel: +44 207-862-7495; email: les.castell@marketnews.com

[TOPICS: MTABLE]