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(U2)‌‌ Heading South

US 10YR FUTURE TECHS
  • RES 4: 122-02 High Aug 2 and key resistance
  • RES 3: 120-29 High Aug 4
  • RES 2: 119-31/120-22 High Aug 15 / 10
  • RES 1: 118-14/119-00 High Aug 22 / 20-day EMA
  • PRICE: 117-10 @ 16:19 BST Aug 24
  • SUP 1: 117-07 61.8% retracement of the Jun 14 - Aug 2 bull cycle
  • SUP 2: 117-04 Low Aug 24
  • SUP 3: 116-26+ Low Jun 29
  • SUP 4: 116-11 Low Jun 28

Treasuries maintain a bearish tone following recent weakness that resulted in a break of the 20- and 50-day EMA levels. 118-05, 50.0% of the Jun 14 - Aug 2 bull cycle, has also been cleared and this signals scope for an extension towards 117-14+ next, the Jul 21 low and Tuesday’s low print. Support at 117-07, the 61.8% retracement, has been tested, but a clear break below is required before 116-26+ support can be considered.

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