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) 117-090 Support Back Under Pressure

*RES 4: 118-010/045 Sep 19 high, broken 6 month support line

*RES 3: 117-295 Sep 26 high

*RES 2: 117-257 Sep 22 high

*RES 1: 117-225 Sep 29 high

*PRICE: 117-107 @1013GMT

*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 has been

breached but still need a move back above 117-225/117-257 however, before any

respite will follow 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: 126-175 Broken 7 month support line

*RES 3: 126-045 Sep 25 high

*RES 2: 125-275 Congestion area Sep 22-25

*RES 1: 125-200 Sep 29 high

*PRICE: 125-015 @1015GMT

*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: 124-050 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 125-200 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 Break Puts Pressure On 151-18

*RES 4: 155-04 Sep 25 high

*RES 3: 154-11 Sep 26 low, now resistance

*RES 2: 153-08/16 Oct 4 high, Sep 20 low

*RES 1: 152-30 Oct 5 high, broken support line

*PRICE: 152-00 @1026GMT

*SUP 1: 151-16/18 1% volatility band, Jul 7 low

*SUP 2: 150-18 61.8% Fibo of 145-26/158-09

*SUP 3: 150-07 May 11 low

*SUP 4: 149-31 2% volatility band

*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 152-30. Support from 152-04/152-01 is under pressure today, this

the protection against a further 151-18/150-18 fall. In the interim, resistance

from 152-30 and then 153-08/153-16 now bars the way higher.

     US EURODOLLAR TECHS: (Z17) Sustained Break Of Key 98.495 Support Targets

98.455

*RES 4: 98.600 Aug 29 high, broken 7 month support line

*RES 3: 98.580 Sep 14 high

*RES 2: 98.545 Sep 20 high

*RES 1: 98.525 Sep 25, Sep 28 highs

*PRICE: 98.490 @1033GMT

*SUP 1: 98.470 Apr 24 low

*SUP 2: 98.455 61.8% Fibo of 98.335-98.655

*SUP 3: 98.410 76.4% Fibo of 98.335-98.655

*SUP 4: 98.360 Dec 15 low

*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 7 month rising support line, which then gave the scope for a

return towards the Jul 6 low at 98.495. This is coming under increasing

pressure, sustained break will target 98.455 next. Nearest resistance comes from

98.525-98.545, above the latter currently needed for respite.

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

[TOPICS: MTABLE]