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(U9) Retreats further from.....>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (U9) Retreats further from the highs
*RES 3: 130-08+ 76.4% 134-07+ - 117-13+
*RES 2: 128-15+ Upper Bollinger band (2%)
*RES 1: 128-08+ Cycle highs
*PRICE: 127-20+ @ 16:15 BST, Jun 21
*SUP 1: 125-06+ May 30 low
*SUP 2: 124-31+/01 50-dma/May 21 low
*SUP 3: 123-24/27+ 38.2% 117-13+-127-21/100-dma
Treasury futures retreated further from the Fed-induced cycle highs printed up
at 128-08+ this week, but remain on track to register a strong close, with the
upward trend channel drawn from mid-May holding comfortably. The medium-term
trend remains pointed higher, but a close above the 128-00 mark will be needed
to add further strength to the upside argument. Resistance above there is
layered between 128-08+ and the 128-15+ upper Bollinger Band. To the downside,
near-term support kicks in at Fib support at 127-08+ and the week's lows of
127-03. A fall and close through here opens the 50-dma.
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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