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) 116-295 Support Under Pressure Today

*RES 4: 117-162 Initial low Oct 16, now resistance

*RES 3: 117-137 Oct 19 high

*RES 2: 117-072 Oct 24 high

*RES 1: 117-037/047 Oct 6 low, hourly resistance

*PRICE: 116-295 @1025GMT

*SUP 1: 116-285/295 Intraday, Mar 17 lows

*SUP 2: 116-175 Dec 15 low

*SUP 3: 116-155 Mar 10 low

*SUP 4: 116-025 1% volatility band

*COMMENTARY* Continued pressure has seen the 76.4% Fibo retrace level at 117-020

give way and attention switch to the Mar 17 low at 116-295. This slightly

breached today, a low of 116-285 posted so far. A sustained break lower will

switch focus back to the Dec 15 low at 116-175 and then this year's previous

116-155 base. In the meantime, resistance comes from 117-037/117-047 but likely

needs a move back above 117-072 before any real improvement will follow.

US 10YR FUTURE TECHS: (Z17) 124-065 Protects The Lower 1% Volatility Band

*RES 4: 125-160 Oct 19 high

*RES 3: 125-015 Oct 18 low, now resistance

*RES 2: 124-300 Oct 2 low, now resistance

*RES 1: 124-225/230 Oct 6, Oct 23 lows, now resistance

*PRICE: 124-135 @1041GMT

*SUP 1: 124-115 Intraday low

*SUP 2: 124-065 Mar 29 low

*SUP 3: 123-305 1% volatility band

*SUP 4: 123-235 76.4% Fibo of 122-145/127-285

*COMMENTARY* Downside interest continues, most latterly losing support from the

Oct 6 low at 124-225 and then the 61.8% Fibo retrace level at 124-170. A low of

124-115 at the time of writing, the next support then seen from the Mar 29 low

at 124-065. This the last level ahead of the lower 1% volatility band at

123-305. Meanwhile, resistance falls to that Oct 6 low at 124-225 and then a

further sequence of lows between 124-300/125-015.

US 30YR FUTURE TECHS: (Z17) Fibo Support At 150-18 The Next Downside Target

*RES 4: 153-10 Oct 17 low, now resistance

*RES 3: 152-20/25 Oct 23 high, Oct 18 low

*RES 2: 152-07 Congestion area Oct 20-24

*RES 1: 151-25 Oct 20 low, now resistance

*PRICE: 150-29 @1100GMT

*SUP 1: 150-18 61.8% Fibo of 145-26/158-09

*SUP 2: 150-07/12 May 11 low, 2017 bull channel base proj'n

*SUP 3: 149-25 2% volatility band

*SUP 4: 148-24 76.4% Fibo of 145-26/158-09

*COMMENTARY* The 151-25 level has given way as has the month's previous 151-07

low. This sees the 61.8% Fibo retrace level at 150-18 as the next downside

target, ahead of the 2017 bull channel base projection at 150-12 and the May 11

low at 150-07. The Oct 20 low at 151-25 provides initial resistance but

currently requires a move back above 152-07 before the immediate downside bias

is reduced.

     US EURODOLLAR TECHS: (Z17) 98.510-98.525 In The Way Of Any Recovery Hopes

*RES 4: 98.580 Sep 14 high

*RES 3: 98.555 Aug 25 low, now resistance

*RES 2: 98.525 Sep 25, Sep 28 highs

*RES 1: 98.510 Oct 13 high

*PRICE: 98.485 @1106GMT

*SUP 1: 98.470 Apr 24, Oct 6 lows

*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* Having lost 98.495 support earlier in the month, the 98.470 level

has since provided some interim support and protection to the 61.8% Fibo retrace

level at 98.455. That said, any recovery will need to deal firstly with the Oct

13 high at 98.510 and then more importantly the dual highs at 98.525. Through

here the minimum requirement to provide some respite and allow some greater

correction of the losses seen since the Sep 8 high at 98.635. 

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

[TOPICS: MTABLE]