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(U2)‌‌ Rally Stalls For Now

US 10YR FUTURE TECHS
  • RES 4: 123-13+ 1.764 proj of the 14 - 23 - 28 price swing
  • RES 3: 122-29+ High Mar 31
  • RES 2: 122-17+ 2.0% 10-dma envelope
  • RES 1: 122-02 High Aug 02
  • PRICE: 121-16 @ 14:51 BST Aug 02
  • SUP 1: 119-19+/118-23+ Low Jul 27 / 50-day EMA
  • SUP 2: 117-14+ Low Jul 21 and key near-term support
  • SUP 3: 116-11 Low Jun 28
  • SUP 4: 115-20 Low Jun 17

Treasuries traded higher to begin the week and printed a higher high on Tuesday. This puts prices clear of resistance at 120-16+ and keeps the outlook bullish. The break higher has confirmed a resumption of the current bull cycle and targets 122-17+ initially, ahead of levels last seen on Mar 31 at 122-29+. On the downside, the 50-day EMA, at 118-23+, is a firm support. Key support is at 117-14+, the Jul 21 low.

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

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