October 09, 2023 13:47 GMT
(Z3) Post-NFP Recovery Builds
US 10YR FUTURE TECHS
- RES 4: 109-24+ 50-day EMA
- RES 3: 108-26+ High Sep 22
- RES 2: 108-12 20-day EMA
- RES 1: 107-22+ High Oct 9
- PRICE: 107-13+ @ 14:36 BST Oct 9
- SUP 1: 106-03+/00 Low Sep 4 / Round number support
- SUP 2: 105-17 2.0% lower 10-dma envelope
- SUP 3: 105-14+ 3.0% Lower Bollinger Band
- SUP 4: 104-26 2.00 proj of the Jul 18 - Aug 4 - Aug 10 price swing
Markets are on a more stable footing early Monday, building the post-NFP recovery. Last week’s lows are yet to be re-tested, and a further stabilisation in prices could show signs of a near-term reversal. For now, a bear trend in Treasuries remains intact, with the pressure going through on the back of the NFP release making for a strong negative close. Last week’s fresh cycle lows confirm a resumption of the downtrend and maintain the price sequence of lower lows and lower highs. Support at 107-07, the Sep 28 low, has been cleared signalling scope for the 106-00 handle next.
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