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GoC Curve Continues To Flatten

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US 10YR FUTURE TECHS
  • RES 4: 139-19+ High Aug 21 and 24 and key resistance
  • RES 3: 139-16 High Aug 27
  • RES 2: 139-09+ 20-day EMA
  • RES 1: 139-07 High Aug 28
  • PRICE: 138-31 @ 11:28 BST Aug 31
  • SUP 1: 138-18+ Low Aug 28
  • SUP 2: 138-13 0.764 proj of Aug 4 - 14 sell-off from Aug 21 high
  • SUP 3: 138-01 1.00 proj of Aug 4 - 14 sell-off from Aug 21 high
  • SUP 4: 138-00 Round number support

Treasuries are likely to remain vulnerable near-term following last week's sharp sell-off and despite the strong bounce Friday. Furthermore, a bearish theme has been reinforced by the breach of 138-24+, the Aug 13 and 14 lows. The break confirms a resumption of the downtrend that has been in place since early August and has opened 138-13, a Fibonacci projection. On the upside, key resistance resides at 139-19+.

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