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(Z9) Neutral tone struck.......>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (Z9) Neutral tone struck pre-FOMC
*RES 3: 133-04+ High Jul 29 2016
*RES 2: 132-17+ 2.0% 10-dma envelope
*RES 1: 132-16 2% Upper Bollinger Band
*PRICE: 129-18 @ 11:44 BST, Sep 18
*SUP 1: 128-16 Low Sep 13
*SUP 2: 128-14+ Low Aug 2
*SUP 3: 128-09 76.4% 127-00+ - 132-13
Another session of stabilisation, with bears clearly closing out of shorts ahead
of the Fed headline risk. For the outlook to remain negative, a drop through
pullback lows at 128-16 will be needed, opening levels not seen since early
August and the key Fib support at 128-09. With the 50-dma giving way last week,
markets are open to a further leg lower, but progress will likely be slow ahead
of the Fed. For bulls to wrest control, a recovery back above 130-00 is needed
ahead of any test on vol band resistance.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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