September 13, 2023 13:02 GMT
(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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