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Free AccessMNI 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) 113-135/113-190 The Brake To Any Recovery Hopes
*RES 4: 113-257 Apr 16 low, now resistance
*RES 3: 113-222 Apr 18 low, now resistance
*RES 2: 113-172/190 Apr 19, Mar 21 lows, now resistance
*RES 1: 113-135 Apr 23 high
*PRICE: 113-117 @0931GMT
*SUP 1: 113-062 Apr 25 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: 112-145 1% volatility band
*COMMENTARY* The loss of pivotal 113-272 support last week returned overall
focus 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
113-135/113-190, above the former will see a clear break of the 2 week downtrend
but back above the latter likely needed to provide any upside enthusiasm.
US 10YR FUTURE TECHS: (M18) 119-110/119-145 The Initial Barrier To A Recovery
*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: 119-075 @0949GMT
*SUP 1: 118-310 Apr 25 low
*SUP 2: 118-185 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 118-185
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) Fall Holding Above 141-14/141-06 Support
*RES 4: 144-25/28 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: 142-01 @0958GMT
*SUP 1: 141-14/17 Feb 21, Apr 25 lows
*SUP 2: 141-06 2% volatility band
*SUP 3: 140-26 Dec 2014 low, 2.618 projected fall from 146-28
*SUP 4: 139-14 76.4% Fibo of 127-23/177-11
*COMMENTARY* The fall from last Wednesday's 146-02 recovery high has broken
beneath the 2 month rising support line, at 144-28 by time today. The subsequent
fall has also now surpassed the 76.4% Fibo retrace level at 142-25, a low of
141-17 on Wednesday, 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 97.655-97.695 Caps
*RES 4: 97.740 Mar 27-28 highs
*RES 3: 97.715 Apr 2 high
*RES 2: 97.695 6 month falling resistance line
*RES 1: 97.655/660 Hourly resistance, Apr 6, Apr 9 lows
*PRICE: 97.605 @1005GMT
*SUP 1: 97.605 Intraday low
*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
now left behind. 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 97.655-97.660 but the
6 month falling resistance line is at 97.695 this week. Above needed before any
respite likely.
--MNI London Bureau;tel: +44 207-862-7495; email: les.castell@marketnews.com
[TOPICS: MTABLE]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.