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) 113-095/113-050 Now Offers Downside Protection

*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: 113-185 Jun 25 high

*PRICE: 113-162 @0957GMT

*SUP 1: 113-095 Jun 22 low

*SUP 2: 113-050 Jun 21 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* This month's spike low to 112-290 was basically a test to the 76.4%

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

relatively quick, last 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 113-095/113-050

currently protects the downside.

US 10YR FUTURE TECHS: (U18) Rally Again Approaches 120-060/120-085 Resistance

*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: 120-020/045 Hourly resistance, Jun 25 high

*PRICE: 119-305 @1002GMT

*SUP 1: 119-265 Hourly support

*SUP 2: 119-240 Hourly base Jun 22

*SUP 3: 119-205 Jun 22 low

*SUP 4: 119-125/135 Congestion area Jun 11-Jun 14, Jun 21 low

*COMMENTARY* This month 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 119-275 and heading towards the next Fibo retrace of note, the 61.8%

retrace at 120-085. Meanwhile, the near term overbought situation has been

remedied by an interim fall to 119-135 and we are once again approaching

120-060/120-085. In the meantime, 119-265/119-205 provides support.

US 30YR FUTURE TECHS: (U18) 144-25/144-31 Remains A Key Resistance Area

*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: 144-06 @1005GMT

*SUP 1: 143-27/30 Hourly support

*SUP 2: 143-21 Hourly base Jun 22

*SUP 3: 143-13 Jun 22 low

*SUP 4: 143-01/04 Jun 21 low, Jun 13 high

*COMMENTARY* This month has seen two attempts on 142-03/142-01 support. The

subsequent recovery created a potentially bullish 'Doji' candle on the daily

chart. Since, we have seen a rally back to 144-25, shy of a challenge towards

the 76.4% Fibo retrace level at 144-31, as we correct losses from the May 30

high at 145-28. Meanwhile, a dip to 143-01 has removed near term overbought

conditions and we are back towards 144-25 again. Support 144-04/143-13.

US EURODOLLAR TECHS: (U18) 97.560 Resistance Proving Difficult To Break

*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: 97.545 @1015GMT

*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,

there has been a fresh fall below 97.500 support, although the decline has 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]