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) 114-155 Still Protects Against 114-092 Return

*RES 4: 115-212/227 Feb 6,Jan 11 highs, 61.8% 116-190/114-092

*RES 3: 115-117 Jan 12 low, now resistance

*RES 2: 115-037 Feb 9 high

*RES 1: 114-310 Hourly resistance

*PRICE: 114-202 @1135GMT

*SUP 1: 114-155 Hourly base Feb 5, Feb 7 low

*SUP 2: 114-092/117 Feb 2, Feb 8 lows

*SUP 3: 113-280 Apr 5 2010 low

*SUP 4: 113-167 1% volatility band

*COMMENTARY* Pressure returned to the downside, following last week's short

lived rally back to 115-212. Now looking at support from 114-155 as the near

term protection against a return to this month's earlier 114-092 low. Resistance

as a consequence falls to 114-310, back above would help but still has

115-037/115-117 to deal with above, before the topside is favoured again. Below

114-092 and look to the April 2010 low at 113-280 next.

US 10YR FUTURE TECHS: (H18) Pressure Returns To The Downside After 122-190 Caps

*RES 4: 123-050 Jan 16 high

*RES 3: 122-190/200 Feb 6 high, Jan 12 low

*RES 2: 122-055 Hourly high Feb 6

*RES 1: 121-185/195 Feb 9, Feb 7 highs

*PRICE: 121-010 @1200GMT

*SUP 1: 120-200 Feb 12 low

*SUP 2: 120-170 Feb 8 low

*SUP 3: 120-115 61.8% Fibo of 111-005/135-155

*SUP 4: 119-280 1% volatility band

*COMMENTARY* Found some support after briefly breaking below the 6 year bear

channel base but holding above the lower 1% volatility band and also the 61.8%

Fibo retrace level at 120-115. The bounce has however been short lived so far,

last Tuesday's 122-190 high proving difficult to sustain and subsequent downside

pressure has resumed, 120-200 now the protection against a 120-170 return and

perhaps that 61.8% Fibo level at 120-115. Resistance 121-195/122-055.

US 30YR FUTURE TECHS: (H18) Recovery Meets 145-14/146-12 Resistance

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

*RES 3: 147-23 Feb 6 high

*RES 2: 146-12 Feb 7 high

*RES 1: 145-06/14 Feb 12 high, hourly resistance

*PRICE: 144-27 @1207GMT

*SUP 1: 143-04/19 Feb 12 low, 1% volatility band

*SUP 2: 142-11 Dec 22 2014 low

*SUP 3: 142-04 2% volatility band

*SUP 4: 140-26 Dec 1 2014 low

*COMMENTARY* Downside extended again, a low of 143-04 on Monday, as we begin to

leave long term support from 144-03/143-25 behind. Next supports of note come

from the December 2014 lows between 142-11 and 140-26. Sandwiched in between is

the lower 2% volatility band, at 142-04 by time today. Meanwhile, resistance

145-06/145-14, back through here will assist and allow a better 146-12 rise,

where next questions are asked.

     US EURODOLLAR TECHS: (H18) Heading Towards 38.2% Fibo Retrace Level At

97.995

*RES 4: 98.145 Feb 6 high

*RES 3: 98.130 Jan 17 low, now resistance

*RES 2: 98.100 Feb 4, Feb 5 lows, now resistance

*RES 1: 98.065 Hourly resistance

*PRICE: 98.020 @1210GMT

*SUP 1: 97.995 38.2% Fibo of 95.980-99.240

*SUP 2: 97.960 1.618 swing of 98.200-98.585

*SUP 3: 97.935 76.4% Fibo of 97.530-99.240

*SUP 4: 97.910 Aug 10 2015 low

*COMMENTARY* The decline has extended over the last week, following the short

lived recovery to 98.145 last Tuesday. The subsequent slip below firstly 98.080

and then 98.050 support, now sees us on our way to 97.995, a 38.2% Fibo retrace

level of the 95.980-99.240 rise, seen over the last 5 years. This ahead of the

swing target at 97.960. In the meantime, 98.065-98.100 provides the near term

bar to any recovery hopes. 

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

[TOPICS: MTABLE]