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(U2)‌‌ Remains Below The 50-Day EMA

US 10YR FUTURE TECHS
  • RES 4: 121-27+ High Apr 5
  • RES 3: 120-27+ High Apr 7
  • RES 2: 120-07+/19+ 50-day EMA / High May 26 and bull trigger
  • RES 1: 119-16+ High Jun 1
  • PRICE: 118-16+ @ 11:20 BST Jun 6
  • SUP 1: 118-01+ Low May 18 and a key short-term support
  • SUP 2: 117-18 Low May 11
  • SUP 3: 116-21 Low May 9 and a bear trigger
  • SUP 4: 116-00 Round number support

Treasuries are trading at recent lows and remain below the 50-day EMA - at 120-07+. This average represents a key resistance and a clear break would pave the way for a stronger recovery towards 122-00. The recent move away from the 50-day EMA however suggests that the recent corrective cycle that started May 9, is over. An extension lower would open key support and a bear trigger at 116-21, May 9 low. Initial firm support is 118-01+.

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