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) Bounces But 114-172/114-200 In Way Of Further Gains

*RES 4: 115-037 Feb 9 high

*RES 3: 114-247 Feb 14 high

*RES 2: 114-200 Congestion area Feb 7-Feb 14

*RES 1: 114-172 Feb 26 high

*PRICE: 114-125 @1025GMT

*SUP 1: 114-037 Hourly support

*SUP 2: 113-315 Feb 15 low

*SUP 3: 113-280 Apr 5 2010 low

*SUP 4: 113-265 Aug 3 2009 low

*COMMENTARY* Pressure returned to the downside, following the short lived rally

back to 115-212. Support from 114-155 and then 114-092 giving way, a low of

113-315 as we edged ever closer to the key long term support from April 2010 at

113-280. The subsequent bounce through 114-155 resistance on Monday encourages

but needs to see a move back above the congested 114-200 region, before the near

term negative bias is reduced. Near term support from 114-037.

US 10YR FUTURE TECHS: (H18) 120-010 Support Still Holding Up

*RES 4: 121-185 Feb 9 high

*RES 3: 121-075 Feb 14 high

*RES 2: 121-017 Median line off Feb 8 low, Feb 16 high

*RES 1: 121-005 Hourly low Feb 14, Feb 26 high

*PRICE: 120-230 @1028GMT

*SUP 1: 120-080 Feb 23 low

*SUP 2: 120-010 Feb 15 low, Mar 2008 high

*SUP 3: 119-115 Sep 2008 high, 1% volatility band

*SUP 4: 118-275 Median line off 2012 highs

*COMMENTARY* Has continued to fall for most of the month, most latterly through

the previous 120-180/120-170 lows. A low of 120-010 last Thursday, in line with

the March 2008 high. Any lower and the Sep 2008 high and 1% volatility band, at

119-115 by time today, become the next downside attraction. In the interim,

resistance from 120-210 has been breached but will likely now need a move back

above 121-005/121-017, before near term downside bias is slowed.

US 30YR FUTURE TECHS: (H18) 142-14/142-11 Support Holding Up So Far

*RES 4: 147-23 Feb 6 high

*RES 3: 146-12/17 Feb 7 high, 38.2% Fibo of 153-04/142-14

*RES 2: 145-09 Feb 14 high

*RES 1: 144-27 Feb 16, Feb 26 highs

*PRICE: 143-31 @1033GMT

*SUP 1: 143-00 Hourly support

*SUP 2: 142-11/14 Dec 22 2014 low, 1% vol band, Feb 21 low

*SUP 3: 140-26 Dec 1 2014 low

*SUP 4: 139-13 76.4% Fibo of 127-73/177-09

*COMMENTARY* Downside broke below 143-04 support last Thursday as we looked to

extend losses below long term support from 144-03/143-25. Next supports of note

come from the December 2014 lows between 142-11 and 140-26. Meanwhile,

resistance from 144-27 now stands in the way of a near term recovery. Back

through here will assist and likely allow a better 146-12/146-17 rise, where

next questions are asked.

     US EURODOLLAR TECHS: (H18) Continues To Fall

*RES 4: 98.040 Feb 13 high

*RES 3: 98.005 Feb 12 low, now resistance

*RES 2: 97.980 Feb 16 high

*RES 1: 97.940/945 Feb 16 low, hourly resistance

*PRICE: 97.890 @1039GMT

*SUP 1: 97.880 Intraday low

*SUP 2: 97.845 Aug 3 2015 low

*SUP 3: 97.780 Jul 20 2015 low

*SUP 4: 97.765 Jul 6 2015 low

*COMMENTARY* The decline continues to grow apace, the latest falls leaving the

76.4% Fibo retrace level at 97.935 and the Aug 10 low at 97.910, in its wake, as

we continue to give back the 95.980-99.240 gains seen over the last 5 years.

Having lost 97.955-97.935 there are currently only previous lows to consider

now, until we reach the 50% Fibo retrace level at 97.610. Resistance falls to

97.945-97.980, back above needed to provide some respite.

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

[TOPICS: MTABLE]