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(U9) Fed not enough to crack...>

US 10YR FUTURE TECHS: (U9) Fed not enough to crack higher
*RES 3: 130-08+ 76.4% 134-07+ - 117-13+
*RES 2: 128-11+ Upper Bollinger band (2%)
*RES 1: 127-29+ Cycle highs
*PRICE: 127-27+ @ 19:51 BST, Jun 19
*SUP 1: 125-06+ May 30 low
*SUP 2: 124-26/01 50-dma/May 21 low
*SUP 3: 123-24/24 38.2% 117-13+-127-21/100-dma
The dovish tones from Fed chair Powell certainly underpinned Treasury futures
ahead of the close, but the moves were insufficient to prompt prices to make a
material move higher despite printing 127-29+. This week's rally does keep bulls
on the front foot, with markets shifting medium-term upside targets higher to
key Fib resistance and multi-year highs at 130-08+. Should momentum flag,
near-term support sits at 126-17+ and a fall below here opens 125-27+ and the
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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