LNG: Asia’s Spot LNG Prices Climb to 2-Week High: Reuters

• Tsy futures bounce slightly (FVM5 to 108-06 from 108-04 at the cutoff) after the latest $70B 5Y note auction (91282CMZ1) trades through: 3.995% high yield vs. 4.005% WI; 2.41x bid-to-cover vs. 2.33x prior (lowest in 9 auctions).
• Peripheral stats: Indirect take-up at 64.04% from 75.8% prior, directs surge to 24.84% vs. 11.0% prior (5 auction low), primary dealer take-up eased to 11.12% vs. 13.2% prior.
• The next 2Y auction is tentatively scheduled for May 28.

• US TSY 5Y NOTE AUCTION: HIGH YLD 3.995%; ALLOTMENT 76.41%
• US TSY 5Y NOTE AUCTION: DEALERS TAKE 11.12% OF COMPETITIVES
• US TSY 5Y NOTE AUCTION: DIRECTS TAKE 24.84% OF COMPETITIVES
• US TSY 5Y NOTE AUCTION: INDIRECTS TAKE 64.04% OF COMPETITIVES
• US TSY 5Y AUCTION: BID/CVR 2.41

• RES 4: 1.1696 1.618 proj of the Feb 28 - Mar 18 - 27 price swing 
• RES 3: 1.1625 1.500 proj of the Feb 28 - Mar 18 - 27 price swing
• RES 2: 1.1608 High Nov 9 2021
• RES 1: 1.1573 High Apr 21 
• PRICE: 1.1350 @ 16:03 BST Apr 23
• SUP 1: 1.1308 Low Apr 23
• SUP 2: 1.1167 20-day EMA and a key support    
• SUP 3: 1.0919 50-day EMA and a short-term pivot level     
• SUP 4: 1.0805 Low Apr 3  

The trend in EURUSD remains bullish and the pullback from Monday’s cycle high is considered corrective. A bullish price sequence of higher highs and higher lows remains intact and note that moving average studies are in a bull-mode position too, signalling a continued dominant uptrend. The focus is on 1.1608 next, the Nov 9 2021 high. Key support is unchanged at the 20-day EMA, at 1.1167.