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) 113-270 Back In Sight After 114-092 Caps Recovery

*RES 4: 114-270 Feb 9 high

*RES 3: 114-200 Feb 7 high

*RES 2: 114-127/155 Mar 2, Feb 14 highs

*RES 1: 114-080/092 Mar 6, Mar 14 highs

*PRICE: 113-290 @1016GMT

*SUP 1: 113-270 Congestion area Feb 15-Feb 28

*SUP 2: 113-222/232 Feb 20-Feb 28 lows

*SUP 3: 113-210 Feb 15 low

*SUP 4: 112-287 1% volatility band

*COMMENTARY* Had gradually continued to recover since hitting a 113-210 low in

the middle of last month. Facing resistance from between 114-080/114-155, 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, after support from 114-005 was lost, the

congested 113-270 area and then 113-222 become the nearest downside levels of

note. A loss of the latter would return overall bias/interest to the downside.

US 10YR FUTURE TECHS: (M18) 120-230/120-240 Break Would Aid Recovery Potential

*RES 4: 121-145 76.4% Fibo of 122-020/119-140

*RES 3: 121-135 1% volatility band

*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: 120-060 @1024GMT

*SUP 1: 120-015/025 Hourly support

*SUP 2: 119-265 Mar 6, Mar 9 lows

*SUP 3: 119-230 Congestion area Feb 15-Feb 28

*SUP 4: 119-140 Feb 15 low

*COMMENTARY* The recovery stalled at 120-230 earlier in the month, 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 once

again comes from the 120-025/120-015 area, this protecting against another fall

towards 119-265 and the congested 119-230 region.

US 30YR FUTURE TECHS: (M18) 145-14/145-16 Proving Tough In The Near Term

*RES 4: 146-30 2% volatility band

*RES 3: 146-21 Feb 6 high

*RES 2: 146-01 38.2% Fibo of 153-14/141-14

*RES 1: 145-14/16 76.4% Fibo of 146-21/141-14, 1% vol band

*PRICE: 144-02 @1032GMT

*SUP 1: 143-26/27 Mar 12 high, Mar 19 low

*SUP 2: 143-13 Mar 13 low

*SUP 3: 142-20/21 1% volatility band, Mar 5 low

*SUP 4: 142-04 Feb 27 low

*COMMENTARY* Topside had been pushing up against the 76.4% Fibo retrace level at

145-14 and also the upper 1% volatility band, at 145-16 by time today and likely

needs a move above here, before further near term confidence will appear. In the

meantime, support from the early March highs at 144-00, has been lost this was

the protection to the stronger level from the Mar 13 low at 143-13. Directly

through 145-14 and the 146-01/146-21 region becomes the next likely target zone.

     US EURODOLLAR TECHS: (M18) Continues Lower, 97.665 Now Protects

97.640-97.625

*RES 4: 97.825 6 month falling resistance line

*RES 3: 97.820 Mar 2 high

*RES 2: 97.785 Congestion area Mar 1-Mar 5

*RES 1: 97.735 Hourly resistance

*PRICE: 97.675 @1145GMT

*SUP 1: 97.665 Mar 16 low

*SUP 2: 97.640 Jul 13 2015 low

*SUP 3: 97.625 1.618 swing of 97.700-97.820

*SUP 4: 97.585 Jun 29 2015 low

*COMMENTARY* Continued it's fall last week, brushing aside support from 97.700

in the process. A low of 97.665 so far, as we head for the next support of note

from the July 2015 low at 97.640. This ahead of the swing target of the recent

97.700-97.820 recovery, at the slightly lower 97.625 level. Resistance also on

the slide, the nearest now from 97.735, this the current bar to a 97.785

recovery.

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

[TOPICS: MTABLE]