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(U9) Rangebound ahead of the...>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (U9) Rangebound ahead of the Fed
*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: 127-12 @ 16:26 BST, Jul 29
*SUP 1: 126-30+/15+ 50-dma/Jun 11 low
*SUP 2: 125-06+ May 30 low
*SUP 3: 125-08 100-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 target for bulls, 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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