Free Trial

‌‌(Z2)‌‌ Needle Still Points South

US 10YR FUTURE TECHS
  • RES 4: 119-18 High Aug 17
  • RES 3: 118-17+ 50-day EMA
  • RES 2: 118-00/01+ High Aug 26 / 20-day EMA
  • RES 1: 117-07+ High Aug 31
  • PRICE: 116-19 @ 16:04 BST Sep 2
  • SUP 1: 115-23 Low Sep 1
  • SUP 2: 114-26 Low Jun 16
  • SUP 3: 114-06 Low Jun 14 and a key support
  • SUP 4: 114-00 Round number support

Treasuries remain vulnerable despite the modest bounce on Friday, with the bearish theme still intact for now. The recent breach of 117-11+, Jul 21 low, reinforced bearish conditions and the subsequent follow through has resulted in the break of 116-01+, 61.8% of the Jun 14 - Aug 2 rally. The break supports the case for a move back to 114-06, Jun 14 low. Initial firm resistance has been defined at 118-00, Aug 26 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.