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‌‌(U1)‌‌ Firms Further

US 10YR FUTURE TECHS
  • RES 4: 135-19+ 50% Aug'20 - May'21 Sell-Off
  • RES 3: 135-09 High Feb 25
  • RES 2: 135-07 High Jul 20
  • RES 1: 134-31+ 200-dma (cont)
  • PRICE: 134-24 @ 16:34 BST Jul 20
  • SUP 1: 132-30+ Low Jul 14 and High Jun 21
  • SUP 2: 132-29+ 20-day EMA
  • SUP 3: 132-13+ Bull channel base drawn off the May 30 low
  • SUP 4: 131-24+/14 Low Jun 25 / Low Jun 17 and a key support

Treasury futures rallied further Tuesday, showing above the 200-dma in the process. A close above this level would be the first material break above the average since late 2018. This week's rally has also seen the contract break above the channel top (crossing at 134-10), reinforcing the bullish tone. This opens 135-07 initially ahead of 135-19+. A break of 132-30, Jul 14 low would instead be bearish.

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

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