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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: (H18) Recovery Falters Just Below 50% Fibo Retrace Level
*RES 4: 116-277/282 76.4% of 117-032/116-032, Nov 28 high
*RES 3: 116-227/230 Dec 1 high, 61.8% Fibo of 117-032/116-032
*RES 2: 116-190/192 Dec 13 high, 50% Fibo of 117-032/116-032
*RES 1: 116-170 Hourly resistance
*PRICE: 116-120 @1435GMT
*SUP 1: 116-070/092 Hourly support
*SUP 2: 116-032 Dec 13 low
*SUP 3: 116-007 9 week bear channel base projection
*SUP 4: 115-170 3 month bear channel base projection
*COMMENTARY* The 116-052 area which provided previous protection to the downside
this month, was put under pressure on Wednesday. A low of 116-032 before seeing
a bounce back above 116-170/116-177 resistance. This now sees 116-192 as the
next Fibo retrace, the 50% in the fall seen since the 117-032 high of early
November. Will need to cross back above here, before chances improve for a
further 116-227/116-282 rise. Support moves to 16-092/116-070 ahead of 116-032.
US 10YR FUTURE TECHS: (H18) 123-290/295 Once Again Holds Under Pressure
*RES 4: 124-320 Nov 28 high
*RES 3: 124-260/275 9 week res line, Dec 1, Nov 29 highs
*RES 2: 124-210/230 Dec 13, Dec 6 highs
*RES 1: 124-175 Hourly resistance
*PRICE: 124-130 @1411GMT
*SUP 1: 124-025/065 Hourly support
*SUP 2: 123-290/295 Dec 13, Nov 30 lows
*SUP 3: 123-270 Oct 25, Oct 27 lows
*SUP 4: 123-110 9 week bear channel base projection
*COMMENTARY* The 123-295 low from the end of last month came under pressure
again on Wednesday. Once again found the ability to bounce from 1123-290 but for
now still mired in resistance from below 124-230/124-275, requiring a move back
above the latter, before real interest in an upside resurgence will appear. In
the meantime, some earlier resistance from 124-175-124-210. Support
124-065/124-025 ahead of still important 123-295/123-270.
US 30YR FUTURE TECHS: (H18) Recovers But Still Shy Of Key 154-00/154-26 Area
*RES 4: 154-23/26 76.4% 156-14/149-07, November highs, 1% vol
*RES 3: 154-18 Dec 6 high
*RES 2: 154-00 76.4% Fibo of 154-18/152-05
*RES 1: 153-26 Dec 13 high
*PRICE: 153-17 @1421GMT
*SUP 1: 152-17 Dec 8 low
*SUP 2: 152-05 Dec 12 low
*SUP 3: 151-26 Hourly base Dec 1, 1% volatility band
*SUP 4: 150-30 Nov 10, 13 lows
*COMMENTARY* A bounce from Tuesday's 152-05 low but so far this remains below
the 76.4% Fibo retrace level at 154-00 and then more importantly the
154-23/154-26 area. Will need to circumvent resistance from here, if the latest
rise is not to prove just corrective. Meanwhile, support comes initially from
152-17, ahead of that 152-05 low. The latter now the protection against a 151-26
fall.
US EURODOLLAR TECHS: (H18) Wednesday Saw Move Toward 98.200 Support
*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: 98.290/300 Hourly resistance
*PRICE: 98.240 @1425GMT
*SUP 1: 98.210 Dec 13 low
*SUP 2: 98.200 Jan 26 high, Mar 15 low
*SUP 3: 98.185 61.8% Fibo of 97.535-98.240
*SUP 4: 98.165 Mar 30 2015 high, now support
*COMMENTARY* Some movement last month, support from 98.290 the 76.4% Fibo
retrace level gave way, followed by the Mar 16 base at 98.260. Now support from
98.240 has broken, a sustained break below and the dual support from 98.200
comes back into view. To provide any relief, then an initial move back above
98.290-98.300 is needed before thoughts can turn to a better 98.325-98.365
recovery.
--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.