(U9) 172.02-171.83 key support zone......>

BUND TECHS: (U9) 172.02-171.83 key support zone

*RES 4: 174.05/06 High Jul 4/0.764 ratio of Apr 30-May 15 rally from Jun 27 low

*RES 3: 173.70 High Jul 8

*RES 2: 173.46 Trendline support now resistance drawn of the May 3 low

*RES 1: 173.08 High Jul 10

*PRICE: 172.60 @ 02:57 GMT July 11

*SUP 1: 172.02 Low Jul 10

*SUP 2: 171.92 Low Jun 27 and a key support

*SUP 3: 171.83 Broader trendline support drawn off the Apr 17 low

*SUP 4: 171.42 Low Jun 17

U9 Bund selling pressure extended yesterday before finding support at 172.02.

This week has seen trendline support drawn off the May 3 low breached however

broader trendline support drawn off the Apr 17 low, at 171.83 remains intact.

172.02 to 171.83 represents a key support zone and if cleared would expose the

contract to a deeper retracement. Momentum studies are bearish suggesting

pressure on supports is likely near term. Key resistance is 173.46.