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(U9) Gearing up for the Fed.....>

US 5YR FUTURE TECHS
US 5YR FUTURE TECHS: (U9) Gearing up for the Fed
*RES 3: 118-31 Sep 7 2017 high
*RES 2: 118-212 61.8% 122-28-111-26+
*RES 1: 118-12/13 Jul 3 high/Jun 25 high
*PRICE: 117-21+ @ 11:08 BST, Jul 31
*SUP 1: 117-182/08+ 50-dma/Jun 11 low
*SUP 2: 116-172 100-dma
*SUP 3: 116-12 May 30 low
The range since the beginning of the week has been pretty pitiful, with markets
clearly sitting on the sidelines ahead of today's Fed decision. Having slipped
to 117-13+ last week, 5-year futures have staged a tepid recovery since then,
with markets likely to remain cautious until the FOMC is out of the way. This
keeps the 50-dma as key support going forward, and bulls may use this level as a
base before targeting cycle highs of 118-13. Resistance sits at 118-017 before
that mark.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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