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(U9) Net Fed effect limited....>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (U9) Net Fed effect limited
*RES 3: 130-08+ 76.4% 134-07+ - 117-13+
*RES 2: 128-14 Jul 3 high
*RES 1: 127-30 Upper Bollinger band (2%)
*PRICE: 127-14+ @ 20:30 BST, Jul 31
*SUP 1: 127-02+ 50-dma
*SUP 2: 125-06+ May 30 low
*SUP 3: 125-11 100-dma
Despite the initial and expected bout of post-Fed volatility, Treasury futures
settled roughly at pre-decision levels after the FOMC delivered the first rate
cut in over a decade. The Sep contract struck a new weekly high/low at
127-22+/127-00+, doing little to change the overarching technical picture. This
keeps 128-00 as a firm upside target and the continued hold above former
trendline resistance-turned-support drawn off the May 3 low remains encouraging.
The 50-dma remains key support at 127-02+.
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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