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MNI EUROPEAN MARKETS ANALYSIS: US Yields Tick Up, JGBs Steady
(U1) Trading Below Recent Highs
- RES 4: 133-00 Round number resistance
- RES 3: 132-28+ 1.00 proj of Apr 29 - May 7 - May 13 price swing
- RES 2: 132-20+ High May 7 and key short-term resistance
- RES 1: 132-05+ High May 26
- PRICE: 131-22+ @ 11:24 BST Jun 1
- SUP 1: 131-01/130-31+ Low May 19 / Low May 13
- SUP 2: 130-23+/17+ Low Apr 29 and key support / Low Apr 13
- SUP 3: 129-31 Low Apr 6
- SUP 4: 129-25 Low Mar 30 and the bear trigger
US 10y futures are off recent highs. Technical conditions though are unchanged and attention is on support at 130-31+, May 13 low and a key S/T chart point. If breached it would expose 130-23+, Apr 29 low. The broader trend is bearish and a breach of 130-23+ would signal a resumption of the downtrend, paving the way for 129-25, Mar 30 low. On the upside, resistance to watch is 132-20+, May 7 high. A break would be bullish.
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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.