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) Recovery Continues, 113-187 Achieved So Far

*RES 4: 114-065/087 76.4% of 114-207/112-250, 1% vol band

*RES 3: 113-290 61.8% Fibo of 114-207/112-250

*RES 2: 113-232 May 4 high

*RES 1: 113-187 May 24 high

*PRICE: 113-155 @1010GMT

*SUP 1: 113-122 Intraday low

*SUP 2: 113-102 May 24 low

*SUP 3: 113-035 May 18 high, now support

*SUP 4: 112-307/310 May 21, May 22 lows

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

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

low of 112-250 so far, breaking below 112-290, the first of two equality fall

targets. In the meantime, has become oversold, back above 113-035/113-077

encourages further recovery  prospects, a high of 113-187 on Thursday, ahead of

113-232/113-290. Meanwhile, 113-122/113-102 becomes nearest support.

US 10YR FUTURE TECHS: (M18) Rally Slightly Exceeds 76.4% Fibo Retrace Level 

*RES 4: 120-050/070 1% vol band, 61.8% of 121-120/118-105

*RES 3: 119-315 May 4 high

*RES 2: 119-275 50% Fibo of 121-120/118-105

*RES 1: 119-215/225 May 10, May 24 highs

*PRICE: 119-185 @1020GMT

*SUP 1: 119-090 May 24 low

*SUP 2: 119-035 Hourly base May 23

*SUP 3: 118-290 May 18 high, now support

*SUP 4: 118-210/215 May 20, May 21 lows

*COMMENTARY* Last week's decline saw the equality fall target at 118-150 give

way. A low of 118-105 seen on Thursday, so far keeping us away from a test to

the 6 year median line support at 118-050. In the meantime, some near term

oversold conditions have allowed a bounce, with the 76.4% Fibo retrace level at

119-190 now overcome, this sees 119-215/119-275 as next barrier of note. Nearest

support now showing from between 119-090/119-035.

US 30YR FUTURE TECHS: (M18) Recovery Now Has 143-09/143-21 Within Sight

*RES 4: 144-08 May 4 high

*RES 3: 143-20/21 50% of 147-03/140-05, May 11 high

*RES 2: 143-09/11 Congestion area May 4-11, 76.4% Fibo 

*RES 1: 143-06 May 24, intraday highs

*PRICE: 143-04 @1039GMT

*SUP 1: 142-01 May 24 low

*SUP 2: 141-18/19 May 16, May 21 highs, now support

*SUP 3: 141-01 May 22 low

*SUP 4: 140-21 Initial recovery high May 18, now support

*COMMENTARY* The fall continued last week, reaching a low of 140-05 on Thursday,

before seeing a bounce aided by some near term oversold conditions. In this

respect, the 141-18/141-19 resistance area has now been overcome, as has the

dual Fibo retrace levels between 142-22/142-26. This now leaves 143-09/143-21 as

the next target range higher. Initial support now from 142-01 and then that

141-19/141-18 region, of more consequence below.

US EURODOLLAR TECHS: (M18) Break Above 6 Month Downtrend, Has 97.735-97.740 Next

*RES 4: 97.820 Mar 2 high, 23.6% Fibo of 98.550-97.595

*RES 3: 97.770 76.4% Fibo of 97.820-97.595

*RES 2: 97.735/740 61.8% of 97.820-97.595, Mar 27-28 highs 

*RES 1: 97.715 Hourly congestion May 14-15

*PRICE: 97.705 @1042GMT

*SUP 1: 97.665 May 17 low

*SUP 2: 97.625 Congestion area Apr 18-May 3

*SUP 3: 97.585/595 Jun 29 2015 low, May 8 low

*SUP 4: 97.560 1.618 swing of 97.630-97.740

*COMMENTARY* Saw a move back above the 6 month falling resistance line last week

and this has moved lower by time this, to 97.590. Back above here encourages and

we have subsequently seen a return towards 97.735-97.740. The former a 61.8%

Fibo retrace level, the latter the Mar 27-28 highs. Will need an eventual break

through here, before gains can be extended toward 97.770 next. Support 97.665

but it is 97.625 that currently protects against a 97.595 return.

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

[TOPICS: MTABLE]