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‌‌(U1)‌‌ Support Cracking

US 10YR FUTURE TECHS
  • RES 4: 135-23 High Feb 24
  • RES 3: 135-22 2.618 proj of Jun 17 - 21 - 25 price swing
  • RES 2: 135-19+ 50% Aug'20 - May'21 Sell-Off
  • RES 1: 135-14 High Aug 04
  • PRICE: 133-22 @ 12:21 BST Aug 10
  • SUP 1: 133-19 Low Aug 10
  • SUP 2: 133-17+/132-30 50-day EMA / Low Jul 14 and high Jun 21
  • SUP 3: 132-24+ Bull channel base drawn off the May 30 low
  • SUP 4: 132-06 Low Jun 30 and Jul 1

Treasury futures cracked the top end of the recent range early last week, but upside momentum has drained, with support under pressure as the Jul 19 low at 133-26 gives way. This signals scope for a deeper pullback toward the 50-day EMA at 133-17+ and the Jul 14 low below at 132-30. 135-14 is the bull trigger, a break opens 135-19+, a retracement level.

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

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