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) Decline Heads Toward 113-280 Support

*RES 4: 115-092 Jan 23 high7

*RES 3: 115-032 Jan 24 low, now resistance

*RES 2: 114-310/320 Jan 30 high, Jan 21 low

*RES 1: 114-217 Jan 29 low, now resistance

*PRICE: 114-172 @1112GMT

*SUP 1: 114-100 Apr 12 2010 low

*SUP 2: 114-092 Feb 2 low

*SUP 3: 113-280 Apr 5 2010 low

*SUP 4: 113-225 1% volatility band

*COMMENTARY* The descent continues, most latterly through the 4 month bear

channel base, at 114-165. A low of 114-092 seen so far, before encountering some

near term oversold conditions. Resistance from 114-217 is now the bar to gains,

the 114-310/114-320 region currently considered a tougher proposition higher.

Through here needed before any kind of recovery will emerge. Lose 114-092 and

the Apr 5 2010 low at 113-280 and the lower 1% volatility band are next.

US 10YR FUTURE TECHS: (H18) Finding Support Above Next 120-160/120-115 Levels

*RES 4: 122-175 Jan 23 high

*RES 3: 122-015 Jan 21 low, now resistance 

*RES 2: 121-275 Jan 31 high

*RES 1: 121-105 Jan 31 low, now resistance 

*PRICE: 120-270 @1140GMT

*SUP 1: 120-260 6 year bear channel base projection

*SUP 2: 120-180 Intraday low

*SUP 3: 120-160 1% volatility band

*SUP 4: 120-115 61.8% Fibo of 111-005/135-155

*COMMENTARY* Has continued to tumble, following on from the break below the Sep

2013 low at 122-070 last month. The 6 year bear channel base projection at

120-260 has been briefly breached today, before recovering on the back of some

near term oversold conditions. Below 120-180 and the 1% volatility band and the

61.8% Fibo retrace level at 120-115 are the next downside attractions.

Meanwhile, back above 121-105 would help, 121-275/122-015 higher.

US 30YR FUTURE TECHS: (H18)  Extends Losses Again, 144-03 Seen Today

*RES 4: 148-07/11 Jan 24 low, Jan 30 high

*RES 3: 147-03/04 Jan 31, Jan 30 lows, now resistance

*RES 2: 146-12 Feb 2 high

*RES 1: 145-14 Hourly resistance

*PRICE: 144-23 @1220GMT

*SUP 1: 144-03 Feb 23 2015 low

*SUP 2: 143-25 Feb 16 2015 low

*SUP 3: 140-26 Dec 1 2014 low

*SUP 4: 139-14 76.4% Fibo of 127-23/177-11

*COMMENTARY* Downside has extended again today, breaking below the Mar low at

145-26 and also briefly the lower 2% volatility band at 144-20 by time today. A

low of 144-03 so far, equalling the similar low from Feb 23 2015. Oversold in

the near term, resistance from 145-14 initially but back above 146-12 likely

needed before any recovery likely to take place. Below 144-03 and attention will

switch to 143-25 next.

     US EURODOLLAR TECHS: (H18) Now Likely On Approach To 98.080 Support

*RES 4: 98.245 Dec 28-29 highs

*RES 3: 98.225 Jan 3 high

*RES 2: 98.205 Dec 20-27 lows, Jan 5 high

*RES 1: 98.160 Hourly resistance

*PRICE: 98.105 @1226GMT

*SUP 1: 98.100 Feb 4 low

*SUP 2: 98.080 Dec 2015 low

*SUP 3: 98.055 Nov 2015 low

*SUP 4: 97.995 38.2% Fibo of 95.980-99.240

*COMMENTARY* It began with the slip below 98.205 support on Jan 4 and has been

followed by a further break below 98.165. As a result, there is the chance for a

potentially deeper fall, as not much is currently evident ahead of the December

2015 low at 98.080. Meanwhile, 98.130 has given way as has last Monday's 98.115

low, which was the protection to 98.080. Nearest resistance falls to 98.160,

back above would provide some respite but that 98.205 level still a tougher ask.

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

[TOPICS: MTABLE]