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(U9) Neutral ahead of the Fed...>

US 5YR FUTURE TECHS
US 5YR FUTURE TECHS: (U9) Neutral ahead of the Fed
*RES 3: 118-212 61.8% 122-28-111-26+
*RES 2: 118-00/05 Series of prev lows Jun/Dec 2015
*RES 1: 118-02 Jun 19 high
*PRICE: 117-202 @ 11:06 BST, Jun 19
*SUP 1: 116-142/12 Mar 27 high/May 30 low
*SUP 2: 115-19/03+ 100-dma/May 3 low
*SUP 3: 114-30 50% 111-26+-118-012
After surging to touch 118-02 in an eventful session Tuesday, 5-Yr futures have
pulled back below the handle to sit broadly neutral ahead of the Fed decision
later today. Bulls are forced to re-target the 118 handle, a close above which
would open 118-212 and 118-31. The modest pullback in European morning hours has
taken some pressure off momentum indicators, leaving all eyes on the Fed.
Failure to cement a rally above 118-00 could trigger a short-term reversal.
Bears need to clear the May 30 low at 116-12, before challenging a run at the
116-00 level & 100-dma.

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