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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) 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: 113-197/210 Hourly resistance, Jul 3 high
*PRICE: 113-165 @1018GMT
*SUP 1: 113-160 Hourly support
*SUP 2: 113-130/140 Jun 25, Jul 3 lows, 76.4% 113-130/113-210
*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 Tuesday'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: 120-040 @1023GMT
*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: 146-03/05 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: 145-00 @1029GMT
*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 @1034GMT
*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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