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Free AccessMNI 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) Key Near Term Support From 113-130 Holds Up
*RES 4: 114-035 76.4% Fibo of 114-152/112-290
*RES 3: 113-280 61.8% Fibo of 114-152/112-290
*RES 2: 113-240/255 Jul 2, Jun 28 highs
*RES 1: 113-210 Hourly recovery high Jun 29, Jul 3 high
*PRICE: 113-195 @1000GMT
*SUP 1: 113-160/170 Hourly support
*SUP 2: 113-130 Jun 25, Jul 3 lows
*SUP 3: 113-095 Jun 22 low
*SUP 4: 113-050 Jun 21 low
*COMMENTARY* The recovery has so far been unable to make any ground above the
Jun 28 high at 113-255. The subsequent pullback has slipped back below 113-157,
thereby exposing the key 113-130 support level. Would anticipate this to hold,
if a deeper 113-095/113-050 correction is to be avoided. While 113-130 remains
intact, then look to yesterday's 113-210 high for next clues. Above and a
further 113-240/113-280 rise is then on the cards.
US 10YR FUTURE TECHS: (U18) Pullback Retests 119-300 Support
*RES 4: 120-220 Equality rise from 119-135 to 118-295/120-060
*RES 3: 120-185 76.4% Fibo of 121-030/118-295
*RES 2: 120-145/150 Jun 28, May 31 highs
*RES 1: 120-120 Jul 3 high
*PRICE: 120-095 @1007GMT
*SUP 1: 119-300 Jun 27, Jul 3 lows
*SUP 2: 119-265 Jun 26 low
*SUP 3: 119-205 Jun 22 low
*SUP 4: 119-135 Jun 21 low
*COMMENTARY* The recovery from last month's dip to 118-295 has so far been
capped by 120-145. The subsequent pullback is likely to test support from
between 119-300/119-265. A loss of the latter would however caution and suggest
a deeper 119-205/119-135 fall, as retracements of those gains from 118-295 begin
to bite. On the topside, a move back above 120-120 would now assist and allow
re-examination of 120-145/120-150 and potentially higher.
US 30YR FUTURE TECHS: (U18) Rally Still Shy Of A 145-25/145-28 Challenge
*RES 4: 146-03/06 Apr 2 high, 1% volatility band
*RES 3: 145-28 May 30 high
*RES 2: 145-25 Equality rise from 143-01 to 142-01/144-25
*RES 1: 145-15/16 Jul 3, Jun 29 highs
*PRICE: 145-10 @1013GMT
*SUP 1: 144-14/16 Hourly support, Jul 3 low
*SUP 2: 144-04/05 Jun 21 high, Jun 27 low
*SUP 3: 143-30 Jun 26 low
*SUP 4: 143-13 Jun 22 low
*COMMENTARY* The 145-16 area has so far continued to cap, shy of a test to the
equality rise target at 145-25 and the May 30 high at 145-28. Meanwhile support
from 144-25 has subsequently given way, with compressed levels between
144-16/143-30 waiting below. Only a loss of the latter would suggest extra scope
to see a 143-13/143-01 fall. In the interim, the move back above 144-29, would
help towards another 145-16 challenge.
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 @1020GMT
*SUP 1: 97.520 Hourly support
*SUP 2: 97.500 Jun 14 low
*SUP 3: 97.475 Apr 25, May 8 lows
*SUP 4: 97.425 50% Fibo of 95.695-99.155
*COMMENTARY* Saw a move back above the 9 month falling resistance line in early
May 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]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.