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) 113-135/113-172 The Likely Bar To Any Recovery Hopes

*RES 4: 113-257 Apr 16 low, now resistance

*RES 3: 113-222 Apr 18 low, now resistance

*RES 2: 113-172 Apr 19 low, now resistance

*RES 1: 113-135 Apr 23 high

*PRICE: 113-077 @0941GMT

*SUP 1: 113-062 Intraday low

*SUP 2: 112-290 Equality fall from 114-207 to 115-127/113-210

*SUP 3: 112-210 Equality fall from 118-320 to 122-285/116-155

*SUP 4: 112-162 1% volatility band

*COMMENTARY* The loss of pivotal 113-272 support last week returned overall bias

to the downside and has been followed by a break of the key 113-180/113-170

area. A low of 113-062 so far, as we approach 112-290, the first of two equality

fall targets. As a consequence, resistance drops to 113-135/113-172, above the

former will break the 2 week downtrend but back above the latter likely needed

to provide any upside enthusiasm.

US 10YR FUTURE TECHS: (M18) Making It's Way Toward The Lower 1% Volatility Band

*RES 4: 120-070 Apr 16 low, now resistance

*RES 3: 119-295 Apr 20 high

*RES 2: 119-215/230 Feb 27, 28, Apr 19 lows, now resistance

*RES 1: 119-110/145 Hourly resistance, Apr 24 high

*PRICE: 119-015 @0950GMT

*SUP 1: 118-310 Intraday low

*SUP 2: 118-220 1% volatility band

*SUP 3: 118-150 Equality fall from 121-120 to 122-190/120-030

*SUP 4: 118-130 6 year median line

*COMMENTARY* Has this week broken below congested 119-265/119-215 support. A low

of 118-310 so far, as we head towards the lower 1% volatility band, at 118-220

by time today. Any lower and the equality fall target at 118-150 becomes the

next level to watch, just above the 6 year median line support from 118-130. As

a consequence, resistance falls to 119-110/119-145 initially, above would assist

but any real recovery is beholden to a higher 119-215/119-230 break.

US 30YR FUTURE TECHS: (M18)  Continues To Fall, 141-14/141-06 Next Real Support

*RES 4: 144-25/26 Apr 5 low, broken 2 month support line

*RES 3: 143-31 Apr 20 high

*RES 2: 143-09/12 Apr 24 high, Apr 19 low

*RES 1: 142-28 Hourly resistance

*PRICE: 141-31 @1015GMT

*SUP 1: 141-30 Hourly support

*SUP 2: 141-14 Feb 21 low

*SUP 3: 141-06 2% volatility band

*SUP 4: 140-26 Dec 2014 low

*COMMENTARY* The fall from last Wednesday's 146-02 recovery high has broken

beneath the 2 month rising support line, at 144-26 by time today. The subsequent

fall has also now surpassed the 76.4% Fibo retrace level at 142-25, a low of

141-30 seen so far today, as we head towards next support from the Feb 21 low at

141-14 and the 2% volatility band at 141-06. Back above 142-28 and then 143-12

currently needed to improve the situation.

US EURODOLLAR TECHS: (M18) Remains Under Pressure While 97.695 Caps Recoveries

*RES 4: 97.775 Mar 6 high

*RES 3: 97.740 Mar 27-28 highs 

*RES 2: 97.715 Apr 2 high

*RES 1: 97.685/695 Hourly resistance, 6 mth falling res line

*PRICE: 97.620 @1021GMT

*SUP 1: 97.615/625 Apr 16 low, 1.618 swing of 97.700-97.820

*SUP 2: 97.585 Jun 29 2015 low

*SUP 3: 97.560 1.618 swing of 97.630-97.740

*SUP 4: 97.515 50% Fibo of 95.835/99.200

*COMMENTARY* Has continued to fall this month, the first swing target at 97.625

has come under pressure. Sustained break lower and not much is currently evident

ahead of the Jun 2015 low at 97.585 and more importantly the second swing target

at 97.560. As a consequence, initial resistance has fallen to 97.685-97.695, the

latter the 6 month falling resistance line. Above needed before any respite

likely.

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

[TOPICS: MTABLE]