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Outlook Remains Bullish

US 10YR FUTURE TECHS
  • RES 4: 117-00 61.8% of the Aug - Oct 2022 bear leg (cont)
  • RES 3: 116-28+ High Jan 19 and key resistance
  • RES 2: 116-08 High Feb 2
  • RES 1: 116-01 High Mar 16
  • PRICE: 115-18 @ 16:46 GMT Mar 17
  • SUP 1: 113-28 38.2% retracement of the rally from Mar 2 (cont)
  • SUP 2: 113-06+ 50-day EMA
  • SUP 3: 112-27 20-day EMA
  • SUP 4: 112-17+ 61.8% retracement of the rally from Mar 2 (cont)

Treasury futures failed to hold on to yesterday’s high of 116-01. Despite the pullback, a bullish short-term outlook remains intact. Key support to watch lies at 113-06+, the 50-day EMA and this level also represent a short-term pivot level. A break of yesterday’s high would open 116-08, the Feb 2 high and 116-28+, the Jan 19 high and a key resistance. On the downside, a clear breach of the 50-day EMA would expose 112-21, the Mar 13 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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