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(Z3) Fresh Cycle Low

US 10YR FUTURE TECHS
  • RES 4: 112-24+ High Jul 27
  • RES 3: 112-14 High Aug 10
  • RES 2: 112-00 Round number resistance
  • RES 1: 110-10 /111-12+ 20-day EMA / High Sep 1 key resistance
  • PRICE: 109-23 @ 13:49 BST Sep 13
  • SUP 1: 109-03 Intraday low
  • SUP 2: 109-00 Round number support
  • SUP 3: 108-20 1.000 proj of the Jul 18 - Aug 4 - Aug 10 price swing
  • SUP 4: 107.23 1.236 proj of the Jul 18 - Aug 4 - Aug 10 price swing

The trend direction in Treasuries remains down and today’s fresh cycle low print of 109-03 reinforces the bearish theme and signals a resumption of the downtrend. This suggests scope for a move towards 108-20, a Fibonacci projection. Note that moving average studies continue to highlight a medium-term downtrend. On the upside, initial resistance is at 110-10, the 20-day EMA. Key resistance is at 111-12+, the Sep 1 high.

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