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Free Access(U9) Makes light work of 130...>
US 10YR FUTURE TECHS: (U9) Makes light work of 130 support
*RES 3: 131-23+ Sep 30 2016 high
*RES 2: 131-00 Nov 9 2016 High
*RES 1: 130-27+ Aug 7 high
*PRICE: 129-28 @ 16:25 BST, Aug 13
*SUP 1: 128-14+ Aug 2 low
*SUP 2: 127-27/12 50-dma/Trendline drawn off Apr 17 low
*SUP 3: 125-30+ 100-dma
Having been supported for much of the morning session, Treasury futures lost a
lot of ground as wires reported the planned uptick in trade tariffs on China had
been delayed until December. This saw markets make light work of 130-00 support,
settling just above the day's lows of 129-17 on the move. It's too soon to call
for a bearish breakout just yet, with markets needing to take out Aug 2 lows at
128-14+ to solidify such a move. To the upside, bulls need another 130 handle
with the Aug 7 ytd high at 130-27+ still within reach.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.