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) Recovery Falters At 113-202/113-207 Resistance

*RES 4: 113-280 61.8% Fibo of 114-152/112-290

*RES 3: 113-220 50% Fibo of 114-152/112-290

*RES 2: 113-202/207 Jun 7 high, May 31 low

*RES 1: 113-175 Hourly resistance

*PRICE: 113-152 @1010GMT

*SUP 1: 113-097 Hourly support

*SUP 2: 113-062/075 Hourly low Jun 15. Jun 18 low

*SUP 3: 113-010 Hourly basing Jun 13-14

*SUP 4: 112-290/300 Jun 13 low, 76.4% Fibo of 112-147/114-152

*COMMENTARY* Last Wednesday's spike low to 112-290 was basically a test to the

the 76.4% Fibo retrace of the preceding 112-147/114-152 rise. The recovery since

has been relatively quick, Tuesday's break through 113-112/111-125 allowing a

return toward the Jun 7 high at 113-202 and May 31 low at 113-207, where next

directional questions are asked. In the interim, support from 113-097 and then

113-075/113-062 protects the downside.

US 10YR FUTURE TECHS: (U18) 119-220/119-175 Supports Against Deeper Correction

*RES 4: 120-185 76.4% Fibo of 121-030/118-295

*RES 3: 120-150/160 May 31 high, hourly high May 30

*RES 2: 120-060/085 Jun 19 high, 61.8% Fibo of 121-030/118-295

*RES 1: 120-025 Hourly resistance

*PRICE: 119-245 @1015GMT

*SUP 1: 119-220 Hourly congestion Jun 15-18

*SUP 2: 119-175 Jun 18 low

*SUP 3: 119-125 Congestion area Jun 11-Jun 14

*SUP 4: 119-050 Hourly base Jun 13

*COMMENTARY* Last Wednesday saw a sharp dip to 118-295, just below support from

the May 24 low at 118-300. The subsequent recovery has been almost as swift,

rising through Friday's  119-275 high and heading towards the next Fibo retrace

of note, the 61.8% retrace at 120-085. Meanwhile, has become overbought in the

near term, with 119-275 now lost, support comes from the lower 119-220/119-175

area, which currently provides the stronger downside protection.

US 30YR FUTURE TECHS: (U18) Recovery Falters Ahead Of The 144-31 Fibo Level

*RES 4: 145-28 May 30 high

*RES 3: 145-06 May 31 high

*RES 2: 144-25/31 Jun 19 high, 76.4% Fibo of 145-28/142-01

*RES 1: 144-18 Hourly resistance

*PRICE: 144-01 @1024GMT

*SUP 1: 143-23 Hourly base Jun 18

*SUP 2: 143-14 Jun 18 low

*SUP 3: 143-04 Jun 13 high, now support

*SUP 4: 142-18 Jun 11 low

*COMMENTARY* Last Wednesday saw another spike lower toward 142-03/142-01

support. The subsequent recovery has created a potentially bullish 'Doji' candle

close on the daily chart. Back above 143-31 was a positive step, yesterday then

saw a challenge towards the 76.4% Fibo retrace level at 144-31, as we continue

to correct losses from the May 30 high at 145-28. Meanwhile, 143-23/143-14

provides support, loss of the latter would caution now.

US EURODOLLAR TECHS: (U18) Key 97.475 Level Holds And Prompts Recovery

*RES 4: 97.640 May 29 high

*RES 3: 97.600 76.4% Fibo of 97.640-97.475

*RES 2: 97.575 May 14 high, 61.8% of 97.640-97.475

*RES 1: 97.560 Jun 7 high

*PRICE: 97.530 @1030GMT

*SUP 1: 97.495/500 Hourly support

*SUP 2: 97.475 Apr 25, May 8 lows

*SUP 3: 97.425 50% Fibo of 95.695-99.155

*SUP 4: 97.375 1.618 swing of 97.475-97.640

*COMMENTARY* Saw a move back above the 9 month falling resistance line earlier

last month and this has been the precursor to some recovery. We have

subsequently seen a rally back to 97.640 where the rally stalled. As a result,

last Wednesday saw a loss of 97.500 support, although the decline has so far

been held by the stronger 97.475 level. This remains key to overall direction.

Nearest resistance 97.560-97.575, although above 97.600 needed for impetus.

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

[TOPICS: MTABLE]