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GBPUSD TECHS

Corrections Remain Shallow

FED

Reverse Repo Operation, Inching Higher

PIPELINE

$1.5B Royal Bank of Canada 10Y Launched

COMMODITIES

WTI Remains Bullish, on Track for Cycle High Close

US TSYS/SUPPLY

2Y Auction ​Review: Small Stop

(Z0) Bullish Focus

US 30YR FUTURE TECHS

US 30YR FUTURE TECHS:

  • RES 4: 180-03 High Aug 10
  • RES 3: 179-20 76.4% retracement of the Aug 6 - 28 downleg
  • RES 2: 179-18 High Aug 11
  • RES 1: 178-17 High Sep 3 and just above the 178-13/15 zone
  • PRICE: 177-03 @ 11:53 BST, Sep 4
  • SUP 1: 176-02 Former channel resistance-now-support
  • SUP 2: 174-21 Low Sep 1
  • SUP 3: 173-16 Low Aug 28
  • SUP 4: 173-01 2% 10-dma envelope

30yr futures pushed higher again yesterday extending this week's rally. Gains this week has seen price clear the bear channel resistance drawn off the Aug 6 high. The break signals a more significant short-term reversal and attention turns to the next hurdle for bulls, the Aug 24 high at 178-13 that was probed yesterday. Note, 178-15 is the 61.8% retracement of the Aug 6 - 28 decline. A clear breach of this 178-13/15 zone would strengthen a bullish argument. Initial support is at 176-02, the former channel resistance.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com