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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) Fresh Fall Puts 113-062 Back In Focus
*RES 4: 113-232 May 4 high
*RES 3: 113-202 May 3 high
*RES 2: 113-177 May 7 high
*RES 1: 113-120/142 Hourly resistance, May 7 low
*PRICE: 113-090 @1029GMT
*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: 112-125 June 2009 low
*COMMENTARY* The loss of pivotal 113-272 support returned the overall focus to
the downside last month, 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. In the meantime, 113-232 has halted the recovery, the subsequent slide
putting 113-062 back in focus. As a consequence, nearest resistance now falls to
113-120/113-142, Monday's 113-177 high currently of more importance above.
US 10YR FUTURE TECHS: (M18) 119-060 Keeps Pressure Off A 118-310 Return
*RES 4: 120-070 Apr 16 low, now resistance
*RES 3: 119-300/315 Apr 20, May 4 highs
*RES 2: 119-265 May 3 high
*RES 1: 119-180 May 4 low, now resistance
*PRICE: 119-080 @1045GMT
*SUP 1: 119-060/065 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: 118-095 6 year median line
*COMMENTARY* Last month 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 118-095 becomes the next level
to watch. In the meantime the move above 119-155 has assisted but any real
recovery is beholden to a sustained 119-230/265 break. Above and 119-300/120-070
becomes the next target area. Support now 119-065/119-060.
US 30YR FUTURE TECHS: (M18) Recovery Unable To Sustain A 143-31 Break
*RES 4: 144-25 Apr 5 low, now resistance
*RES 3: 144-08/12 May 4 high, hourly high Apr 19
*RES 2: 143-27 May 7 high
*RES 1: 143-12 May 7 low, now resistance
*PRICE: 142-19 @1055GMT
*SUP 1: 142-15 Hourly support
*SUP 2: 142-02 Hourly base Apr 26
*SUP 3: 141-14/17 Feb 21, Apr 25 lows
*SUP 4: 140-26 2.618x 147-03/144-25 from 146-28
*COMMENTARY* The fall from the Apr 17 recovery high at 146-02 saw a break
beneath the 2 month rising support line last month. The subsequent fall has also
surpassed the 76.4% Fibo retrace level at 142-25, a low of 141-17 so far, just
above the next support from the Feb 21 low at 141-14. The move back above 143-31
has assisted but needed to sustain this to improve the situation further.
Nearest support now 142-15/142-02.
US EURODOLLAR TECHS: (M18) Will Remain Under Pressure While 97.645-97.660 Caps
*RES 4: 97.740 Mar 27-28 highs
*RES 3: 97.715 Apr 2 high
*RES 2: 97.660 Apr 6, Apr 9 lows, now resistance
*RES 1: 97.645 6 month falling resistance line
*PRICE: 97.630 @1100GMT
*SUP 1: 97.595/600 May 8, Apr 26 lows
*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 97.595 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
97.645-97.660, the former the level of the 6 month falling resistance line this
week. Above needed before any real 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.