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(U9) Plays the range *RES 3:...>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (U9) Plays the range
*RES 3: 130-08+ 76.4% 134-07+ - 117-13+
*RES 2: 128-14 Jul 3 high
*RES 1: 128-02 Upper Bollinger band (2%)
*PRICE: 127-11 @ 16:06 BST, Jul 30
*SUP 1: 127-00+ 50-dma
*SUP 2: 125-06+ May 30 low
*SUP 3: 125-09+ 100-dma
Having failed to take out 128-00 in recent weeks, Treasury futures continue to
show signs of bullish exhaustion ahead of the Fed decision this week. This makes
128-00 a firm upside target, which may have a tough time hitting the mark unless
the Fed really come out swinging. The continued hold above former trendline
resistance-turned-support drawn off the May 3 low remains encouraging, but the
effect has faded in recent sessions. The May 30 low provides interim support at
125-06+.

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