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) 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: 113-102 @0930GMT

*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: 119-105 @0938GMT

*SUP 1: 119-060 May 9 low

*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 119-060.

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: 142-25 @0955GMT

*SUP 1: 142-15 May 9 low

*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: 97.635 @1000GMT

*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]