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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) 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]
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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.