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 113-062/113-077 Back In Focus

*RES 4: 113-232 May 4 high

*RES 3: 113-202 May 3 high

*RES 2: 113-170/177 May 10, May 7 highs

*RES 1: 113-142/150 Hourly resistance

*PRICE: 113-107 @1000GMT

*SUP 1: 113-062/077 Apr 25, May 9 lows

*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

113-142/113-150, Monday's 113-177 high currently of more importance above.

US 10YR FUTURE TECHS: (M18) 119-060 Still 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: 119-215 May 10 high

*PRICE: 119-160 @1010GMT

*SUP 1: 119-095 Hourly support

*SUP 2: 119-060 May 9 low

*SUP 3: 118-310 Apr 25 low

*SUP 4: 118-150 Equality fall from 121-120 to 122-190/120-030

*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 119-265 break. Above and 119-300/120-070

becomes the next target area. Support now 119-095/119-060.

US 30YR FUTURE TECHS: (M18) Further Recovery Requires A 143-27/143-30 Break

*RES 4: 145-06 Equality rise from 142-15 to 141-14/144-08

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

*RES 2: 144-08/12 May 4 high, hourly high Apr 19

*RES 1: 143-27/30 May 7, May 3 highs

*PRICE: 143-15 @1020GMT

*SUP 1: 142-24 Hourly support

*SUP 2: 142-15 May 9 low

*SUP 3: 142-02 Hourly base Apr 26 

*SUP 4: 141-14/17 Feb 21, Apr 25 lows

*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 143-30

has assisted but needs to sustain this to improve the situation further. Nearest

support now 142-24/142-15.

US EURODOLLAR TECHS: (M18) Rally Challenging 6 Month Downtrend

*RES 4: 97.740 Mar 27-28 highs 

*RES 3: 97.715 Apr 2 high

*RES 2: 97.690 Mar 29 low, now resistance

*RES 1: 97.660/670 Apr 6, Apr 9 lows, hourly resistance

*PRICE: 97.650 @1029GMT

*SUP 1: 97.610/615 Hourly support

*SUP 2: 97.595 May 8 low

*SUP 3: 97.585 Jun 29 2015 low

*SUP 4: 97.560 1.618 swing of 97.630-97.740

*COMMENTARY* Today challenging and threatening a break above the 6 month falling

resistance line at 97.645. Back above here would encourage, at least for some

better correction of losses from the late March highs at 97.740. This would see

97.660-99.670 as the next barrier to cross, 97.690-97.715 above. In the

meantime, nearest support rises to 97.615-97.610 ahead of the recent 97.595 low.

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

[TOPICS: MTABLE]