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) 113-200/113-222 Now The Bar To Further Recovery Hopes

*RES 4: 113-312 Apr 17 high

*RES 3: 113-257/262 Apr 16 low, 1.618 proj'n tgt from 113-097

*RES 2: 113-222 Apr 18 low, now resistance

*RES 1: 113-200/202 Equality rise from 113-097, May 3 high

*PRICE: 113-182 @0955GMT

*SUP 1: 113-097/115 May 2 low, hourly support

*SUP 2: 113-062 Apr 25 low

*SUP 3: 112-290 Equality fall from 114-207 to 115-127/113-210

*SUP 4: 112-210 Equality fall from 118-320 to 122-285/116-155

*COMMENTARY* The loss of pivotal 113-272 support returned the focus to the

downside last week, followed by a break of the key 113-180/113-170 area. A low

of 113-062 so far, this ahead of 112-290, the first of two equality fall

targets. As a consequence, resistance moves to 113-200/113-222, above the latter

would further reinforce the recent break back above the 2 week downtrend and

allow a higher 113-257/113-312 recovery.

US 10YR FUTURE TECHS: (M18) 119-295/119-300 The Next Potential Upside Barrier

*RES 4: 120-115 1.618 projection target from 119-080

*RES 3: 120-070 Apr 16 low, now resistance

*RES 2: 119-295/300 Apr 20 high

*RES 1: 119-265 May 3 high

*PRICE: 119-245 @1005GMT

*SUP 1: 119-080/115 May 2 low, hourly support

*SUP 2: 118-310 Apr 25 low

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

*SUP 4: 118-115 6 year median line

*COMMENTARY* Last week saw a break below congested 119-265/119-215 support. A

low of 118-310, as we so far head off a test towards the equality fall target at

118-150. Any lower and the 6 year median line at 118-115 becomes the next level

to watch. As a consequence, oversold in near term, above 119-155 assisted but

any real recovery is beholden to a sustained 119-215/119-230 break. Above and

119-300/120-070 becomes the next target area. Support 119-115/119-080.

US 30YR FUTURE TECHS: (M18)  Recovery Still Stalling Beneath 143-31 Resistance

*RES 4: 145-09 Broken 2 month support line

*RES 3: 144-25 Apr 5 low, now resistance

*RES 2: 144-12 Hourly high Apr 19

*RES 1: 143-30/31 May 3, Apr 20 highs

*PRICE: 143-25 @1010GMT

*SUP 1: 142-18/22 Hourly support, May 2 low

*SUP 2: 142-02 Hourly low Apr 26

*SUP 3: 141-14/17 Feb 21, Apr 25 lows

*SUP 4: 140-26 Dec 2014 low, 2.618 projected fall from 146-28

*COMMENTARY* The fall from the Apr 17 recovery high at 146-02 has seen a break

beneath the 2 month rising support line, at 145-09 by time today. The subsequent

fall has also surpassed the 76.4% Fibo retrace level at 142-25, a low of 141-17

last Wednesday, just above the next support from the Feb 21 low at 141-14.

Oversold as a result, back above 143-12 has assisted but above 143-31 now needed

to improve the situation further. Nearest supports now 142-22/142-02.

US EURODOLLAR TECHS: (M18) Will Remain Under Pressure While 97.670 Caps 

*RES 4: 97.740 Mar 27-28 highs 

*RES 3: 97.715 Apr 2 high

*RES 2: 97.670 6 month falling resistance line

*RES 1: 97.655/660 Hourly resistance, Apr 6, Apr 9 lows

*PRICE: 97.630 @1015GMT

*SUP 1: 97.600/610 Apr 26 low, hourly support

*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* The fall continued last month, beneath the first swing target at

97.625. A low of 97.600 so far, 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 the slightly higher

97.670 level this week. Above needed before any real respite likely.

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

[TOPICS: MTABLE]