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‌‌(U2)‌‌ Extends Bounce From Tuesday’s Low

US 10YR FUTURE TECHS
  • RES 4: 120-00 Round number resistance
  • RES 3: 119-16+ High Jun 1
  • RES 2: 119-03+ 76.4% retracement of the May 26 - Jun 14 bear leg
  • RES 1: 118-09+/16 High Jun 30 / 50-day EMA
  • PRICE: 118-06+ @ 16:17 BST Jun 30
  • SUP 1: 116-11/115-20 Low Jun 17
  • SUP 2: 114-07+ Low Jun 28 / 14 and bear trigger
  • SUP 3: 114-00 Round number support
  • SUP 4: 113-19 Low Jun 19, 2009 (cont)

Treasuries have recovered further from Tuesday’s low of 116-11. Key short-term resistance at the 118-08 level gave way, signalling a resumption of recent gains. This opens the 50-day EMA, at 118-16 as the next upside level - an important short-term pivot resistance. Note that the primary trend is down. Initial firm support to watch is 115-20, the Jun 17 low. A breach would expose 114-07+, the bear trigger.

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

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