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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: (U18) May 31 Low At 113-207 The Bar To Further Recovery
*RES 4: 114-020 Hourly high May 30
*RES 3: 113-292 May 31 high
*RES 2: 113-257 Hourly recovery high May 31
*RES 1: 113-207 May 31 low
*PRICE: 113-157 @1118GMT
*SUP 1: 113-090 Intraday low
*SUP 2: 113-070 Initial rally high Jun 7, now support
*SUP 3: 113-027/035 May 25, Jun 7 lows
*SUP 4: 112-300 76.4% Fibo of 112-147/114-152
*COMMENTARY* Found support on Thursday from 113-035, just ahead of the May 25
low at 113-027. The subsequent recovery has been relatively swift, reaching back
up towards the May 31 low at 113-207. This seen as the bar to a better
correction of losses sustained since the 114-152 high of May 29. In the interim,
support comes from above 113-090/113-070, back below the latter will disappoint
and put further gains in abeyance.
US 10YR FUTURE TECHS: (U18) Recovers After Test To 119-045 Fibo Support
*RES 4: 120-240 Hourly recovery high May 30
*RES 3: 120-150/160 May 31 high, hourly high May 30
*RES 2: 120-050 Hourly high Jun 1
*RES 1: 120-005 Jun 7 high
*PRICE: 119-245 @1127GMT
*SUP 1: 119-145 Intraday low
*SUP 2: 119-110 Initial rally high Jun 7, now support
*SUP 3: 119-040/045 Jun 7 low, 61.8% Fibo of 117-300/121-030
*SUP 4: 118-300 May 24 low
*COMMENTARY* The recovery since the dip to 117-300 on May 17, resulted in a
sharp spike higher to 121-030 last week. Has subsequently seen a decent
pullback, as a result of some considerably overbought conditions but has found
support from around 119-045, a 61.8% Fibo retrace of those gains. The subsequent
recovery looks to correct some of that fall, 120-005/120-050 now the bar to a
further rise. Support now from 119-145/119-110.
US 30YR FUTURE TECHS: (U18) Correcting Some Of The Recent Losses From 145-28
*RES 4: 144-31 76.4% Fibo of 145-28/142-01
*RES 3: 144-13 61.8% Fibo of 145-28/142-01
*RES 2: 144-06 Jun 7 high
*RES 1: 143-31 Intraday high
*PRICE: 143-15 @1138GMT
*SUP 1: 143-01 Intraday low
*SUP 2: 142-19 Hourly highs Jun 6-7, now support
*SUP 3: 142-01 Jun 7 low
*SUP 4: 141-24/27 May 25 low, 61.8% of 139-11/145-28
*COMMENTARY* Finally found some support on Thursday at 142-01, thereby saving a
test to the key support situated between 141-31/141-24. The following recovery
has been impressive, resulting in a spike high to 144-06 yesterday. Some
overbought hourly conditions now being rectified, the day's 143-01 low as
initial support, 142-19 below. Loss here would caution again. Meanwhile,
143-31/144-06 becomes the bar to a higher correction of losses from 145-28.
US EURODOLLAR TECHS: (U18) 97.500/97.510 Support Has Held The Fall This Week
*RES 4: 97.680 Mar 28 high
*RES 3: 97.640 May 29 high
*RES 2: 97.615 May 30 high
*RES 1: 97.565/575 Hourly resistance
*PRICE: 97.540 @1140GMT
*SUP 1: 97.500/510 May 17-22 lows
*SUP 2: 97.475 Apr 25, May 8 lows
*SUP 3: 97.425 50% Fibo of 95.695-99.155
*SUP 4: 97.395 Broken 9 month resistance line
*COMMENTARY* Saw a move back above the 9 month falling resistance line earlier
last month, which has fallen by time to 97.395 this week and this has been the
precursor to some recovery. We have subsequently seen a rally back to 97.640 so
far, where the rally has stalled, the Mar 28 high at 97.680 the next resistance
of consequence higher. As a result, support from 97.575-97.555 has been lost,
although 97.510-97.500 provides a stronger base below.
--MNI London Bureau;tel: +44 207-862-7495; email: les.castell@marketnews.com
[TOPICS: MTABLE]
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