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By Les Castell
     Click below for today's MNI US Morning FI Technical Analysis Report -
http://tinyurl.com/h8pyhnq
US 5YR FUTURE TECHS: (H18) Downside Attacks Base Of 5 Year Bear Channel
*RES 4: 116-117 Dec 18 high
*RES 3: 116-065/067 Dec 29 high, Dec 18 low
*RES 2: 116-032 Dec 13 low, now resistance
*RES 1: 115-240/270 Jan 4, Dec 26 lows, now resistance
*PRICE: 115-212 @1133GMT
*SUP 1: 115-155 Jan 10 low
*SUP 2: 115-062 7 week bear channel base projection
*SUP 3: 114-317 3 month bear channel base projection
*SUP 4: 114-252 61.8% Fibo of 108-152/124-320
*COMMENTARY* The downside found fresh impetus on Wednesday, moving below the 5
year bear channel base projection at 115-192 in the process. A low of 115-155 so
far, before once again encountering some near term oversold conditions. In this
respect look to 115-240/115-270 for immediate resistance. Back above the latter
would ease immediate pressure but the higher 116-032/116-067 area still provides
a tougher ask. Below 115-155 and two bear channel projections next.
     
US 10YR FUTURE TECHS: (H18) Decline Accelerates But Holds Above 122-205 Support
*RES 4: 124-025 Dec 29 high
*RES 3: 123-280/285 Jan 5, Jan 3 highs
*RES 2: 123-125 Dec 21 low, now resistance
*RES 1: 123-055/080 Hourly resistance
*PRICE: 123-025 @1138GMT
*SUP 1: 122-205/225 Mar 10, Mar 14 lows, Jan 10 base
*SUP 2: 122-145 Dec 15 2016 low
*SUP 3: 122-085 1% volatility band
*SUP 4: 122-070 Sep 2013 low
*COMMENTARY* Following the loss of the the long term 76.4% Fibo retrace level at
123-235, the downside received some further acceleration yesterday with the
break below the 3 month bear channel base at 123-065. This sees the March lows
at 122-205 as the next potential target area, ahead of the Dec 2016 low at
122-145. Meanwhile, resistance falls to 123-055/123-080 but likely needs to
combat the higher 123-125 level for chance of better correction/respite.
     
US 30YR FUTURE TECHS: (H18) 150-14 Provides Initial Bar To Recovery Efforts
*RES 4: 152-21 Jan 5 high
*RES 3: 152-07 Jan 8 high
*RES 2: 151-12/15 Jan 2, Jan 8 lows, now resistance
*RES 1: 150-14 Dec 20 low, now resistance
*PRICE: 150-03 @1145GMT
*SUP 1: 149-03 Jan 10 low
*SUP 2: 148-16/24 1% volatility band, 76.4% of 145-26/158-09
*SUP 3: 147-18 4 month bear channel base projection
*SUP 4: 147-14/15 Mar 17, Mar 16 lows
*COMMENTARY* Fresh decline this week left 150-14/150-07 support in it's wake.
Next area of note now becomes 148-24/148-16 where the 76.4% Fibo retrace level
of the 145-26/158-09 rise is today joined by the lower 1% volatility band.
Meanwhile, Wednesday's 149-03 low provides an interim support level. On the
topside, 150-14 now reverts to resistance, back above here required before the
chance of seeing a better correction of losses from recent 152-07/153-03 highs.
     US EURODOLLAR TECHS: (H18) 98.185-98.165 Next Support Area As Decline
Continues
*RES 4: 98.345 Oct 6 low, now resistance
*RES 3: 98.325 Nov 15 high
*RES 2: 98.290 Nov 14 low, Nov 22, 24, 28 & 29 highs
*RES 1: 98.245/250 Dec 28, 29 & Dec 14 highs
*PRICE: 98.180 @1153GMT
*SUP 1: 98.175/180 Jan 4 low, 1.618 swing of 98.205-98.245
*SUP 2: 98.165 Mar 30 2015 high, now support
*SUP 3: 98.080 Dec 2015 low
*SUP 4: 98.055 Nov 2015 low
*COMMENTARY* Have finally seen a slip below 98.200, opening the way for a look
at 98.185-98.165 where the next layer of support lies. Any lower than this and
there is the chance for a potentially deeper fall, as not much is currently then
evident ahead of the December 2015 low at 98.080. Meanwhile, the failure to
recover through 98.245-98.250 has been the catalyst for the latest fall, still
need back above here for any respite.
--MNI London Bureau;tel: +44 207-862-7495; email: les.castell@marketnews.com
[TOPICS: MTABLE]