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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: (M18) Bounces But 114-127/114-155 In Way Of Further Gains
*RES 4: 115-012 Hourly high Feb 6
*RES 3: 114-270 Feb 9 high
*RES 2: 114-200 Feb 7 high
*RES 1: 114-127/155 Mar 2, Feb 14 highs
*PRICE: 114-057 @1220GMT
*SUP 1: 114-005 Mar 2 low
*SUP 2: 113-270 Congestion area Feb 15-Feb 28
*SUP 3: 113-210 Feb 15 low
*SUP 4: 112-270 1% volatility band
*COMMENTARY* Has gradually continued to recover since hitting a 113-210 low in
the middle of last month. Now facing resistance from 114-127/114-155, above
which would allow a higher 114-200/114-270 rise, as we claw back losses from the
Feb 6 high at 115-127. Meanwhile, nearest support comes from last Friday's
114-005 low and then the congested 113-270 area. A loss of the latter would
return overall bias/interest to the downside.
US 10YR FUTURE TECHS: (M18) 120-230/120-240 In Way Of Increased Recovery
*RES 4: 122-030 Feb 6 high
*RES 3: 121-145 76.4% Fibo of 122-020/119-140
*RES 2: 121-010 Feb 9 high, 61.8% Fibo of 122-020/119-140
*RES 1: 120-230/240 Mar 1 high, 50% Fibo of 122-020/119-140
*PRICE: 120-085 @1235GMT
*SUP 1: 120-025 Mar 2 low
*SUP 2: 119-230 Congestion area Feb 15-Feb 28
*SUP 3: 119-140 Feb 15 low
*SUP 4: 118-275 1% volatility band
*COMMENTARY* The recovery has stalled at 120-230, just beneath the 50% Fibo
retrace level of the preceding 122-020/119-140 fall, at 129-240. Will need the
added stimulus of a break above the latter, before considering the potential for
increased 121-010/121-145 gains. In the interim, support comes from Friday's
120-025 low and then from the congested 119-230 region. Back below here will
caution and switch interest back to the downside.
US 30YR FUTURE TECHS: (M18) 144-15/145-14 The Resistance To Increased Recovery
*RES 4: 146-21 Feb 6 high
*RES 3: 146-01 38.2% Fibo of 153-14/141-14
*RES 2: 145-14 76.4% Fibo of 146-21/141-14
*RES 1: 144-15/20 1% volatility band, Mar 2 high
*PRICE: 143-15 @1247GMT
*SUP 1: 143-05 Mar 2 low
*SUP 2: 142-04 Feb 27 low
*SUP 3: 141-19 1% volatility band
*SUP 4: 141-14 Feb 21 low
*COMMENTARY* The recovery from last month's 141-14 base has made it back to the
upper 1% volatility band, at 144-15 by time today. Will require a further rise
through this 144-15/144-20 area however and then the 76.4% Fibo retrace level at
145-14, before any real belief in a continued rise will occur. Meantime, support
comes from last Friday's 143-05 low but then more importantly from above the Feb
27 low at 142-04.
     US EURODOLLAR TECHS: (M18) The Embryonic Recovery Continues
*RES 4: 97.910/915 Feb 7 high, 76.4% Fibo of 97.980-97.700  
*RES 3: 97.860/870 Feb 2 low, 61.8% Fibo of 97.980-97.700
*RES 2: 97.840 50% Fibo of 97.980-97.700
*RES 1: 97.820 Mar 2 high
*PRICE: 97.790 @1300GMT
*SUP 1: 97.760 Hourly support
*SUP 2: 97.725 Mar 1 low
*SUP 3: 97.700 Feb 28 low
*SUP 4: 97.640 Jul 13 2015 low
*COMMENTARY* The continuous decline finally came to a halt at 97.700 last
Wednesday. The subsequent recovery begins to correct losses, initially from the
Feb 6 high at 97.980. In this respect, following Friday's bounce to 97.820, the
next Fibo retrace level higher is the 50% at 97.840. As a consequence support is
also on the rise, 97.760 initially and then the Mar 1 low at 97.725, now afford
the downside some protection.
--MNI London Bureau;tel: +44 207-862-7495; email: les.castell@marketnews.com
[TOPICS: MTABLE]
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