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: (H18) Key 116-145 Support Briefly Gives Way

*RES 4: 116-305 Nov 15 high

*RES 3: 116-282 Nov 28 high

*RES 2: 116-252/255 Nov 29 high, 3 month falling res line

*RES 1: 116-185/200 Hourly resistance

*PRICE: 116-150 @1240GMT

*SUP 1: 116-090 Nov 30 low

*SUP 2: 116-052 7 week bear channel base projection

*SUP 3: 115-257 3 month bear channel base projection

*SUP 4: 115-142 1% volatility band

*COMMENTARY* The decline continued on Thursday, losing support from the Nov 21

low at 116-145 in the process. A low of 116-090 before bouncing. A sustained

loss of 116-145 will swing the overall bias back to the downside and focus on

two bear channel base projections between 116-052 and 115-257. Resistance

meanwhile from 116-185/116-200 and then more importantly 116-252/116-255.

Require back through here before things can improve.

US 10YR FUTURE TECHS: (H18) 124-155/124-175 Break Would Provide Some Respite

*RES 4: 124-300/320 7 week falling res line, Nov 28 high

*RES 3: 124-275 Nov 29 high

*RES 2: 124-230 Initial low Nov 29, now resistance

*RES 1: 124-155/175 Hourly resistance

*PRICE: 124-105 @1250GMT

*SUP 1: 124-010 Hourly support

*SUP 2: 123-295 Nov 30 low

*SUP 3: 123-270 Oct 25, Oct 27 lows

*SUP 4: 123-150 7 week bear channel base projection

*COMMENTARY* The key 124-050/124-065 support area gave way on Thursday, a low of

124-010 before recovering on the back of some near term oversold conditions. A

sustained break below here will see the potential for an added 123-270 fall

next. That said, with those near term conditions oversold, a move back above

125-155/124-175 would provide some respite and the chance for a move back up the

recent range.

US 30YR FUTURE TECHS: (H18) Recovers After A Tilt Towards 150-30 Support

*RES 4: 154-26 November highs

*RES 3: 154-11 1% volatility band

*RES 2: 153-24 Nov 28 high

*RES 1: 153-10 Congestion area Nov 20-28

*PRICE: 152-17 @1300GMT

*SUP 1: 152-06 Hourly support

*SUP 2: 151-24 Nov 29 low

*SUP 3: 151-00 Nov 30 low

*SUP 4: 150-30 Nov 10, 13 lows, 61.8% of 149-07/153-24

*COMMENTARY* Has pulled back rather swiftly after hammering away at

153-21/153-24 resistance, without success over the latter course of last month.

The subsequent fall below 151-19/151-16 on Thursday was arrested at 151-00,

ahead of the key 150-30 level. As a result and aided by some oversold conditions

we have seen a bounce, 153-10 now the bar to a renewed recovery and another go

at 153-24. Support rises to 152-06/151-24.

     US EURODOLLAR TECHS: (H18) 98.300-98.310 Break Needed To Provide Respite

*RES 4: 98.365 Oct 30 high

*RES 3: 98.345 Oct 6 low, now resistance

*RES 2: 98.325 Nov 15 high

*RES 1: 98.300/310 Hourly resistance

*PRICE: 98.260 @1305GMT

*SUP 1: 98.255/260 Intraday, Mar 16, Nov 21 lows

*SUP 2: 98.240 Hourly support

*SUP 3: 98.200 Jan 26 high, Mar 15 low

*SUP 4: 98.185 61.8% Fibo of 97.535-98.240

*COMMENTARY* Some movement last month, support from 98.290 the 76.4% Fibo

retrace level gave way. A low of 98.255 seen so far, just below the previous Mar

16 base at 98.260. Some overshoot to 98.240 can be allowed but any lower and the

dual support from 98.200 comes back into view. To provide any relief, then an

initial move back above 98.300-98.310 can be rewarded with a better

98.325-98.365 recovery.

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

[TOPICS: MTABLE]