US TSY FUTURES: BLOCK: Sep'25 5Y Buy

• EUR/USD: May08 $1.1200(E2.5bln), $1.1250(E1.5bln), $1.1390-00(E3.0bln), $1.1420-25(E1.3bln); May09 $1.1300(E1.3bln), $1.1375-85(E954mln), $1.1400-10(E1.1bln)
• USD/JPY: May08 Y142.00($1.1bln), Y143.00($1.6bln), Y145.00($1.3bln); May09 Y145.00($1.8bln); May12 Y142.45-50($1.0bln)
• USD/CAD: May09 C$1.3700($1.2bln), C$1.3750($1.2bln)
• USD/CNY: May08 Cny7.4500($1.5bln)

• RES 4: 113-22   1.382 proj of the Apr 11 - 16 - 22 price swing 
• RES 3: 113-04   76.4% retracement of the Apr 7 - 11 bear leg
• RES 2: 112-20+ High May 1 and key new-term resistance
• RES 1: 112-01+ High May 2
• PRICE:‌‌ 111-04 @ 17:05 BST May 6
• SUP 1: 110-27+ Intraday low  
• SUP 2: 110-16+/109-08 Low Apr 22 / 11 and the bear trigger
• SUP 3: 110-00    100-dma
• SUP 4: 108-26+ 76.4% retracement of the Jan 13 - Apr 7 bull cycle

The latest pullback in Treasury futures undermines the recent bull cycle. The contract has breached the 20-day EMA, and pierced support at the 50-day EMA, at 110-30+. A clear breach of this average would strengthen a bearish threat and expose 110-16+, the Apr 22 low. For bulls, price needs to trade above key short-term resistance at 112-20+, the May 1 high, to reinstate a bullish theme.

• US TSY TO SELL $85.000 BLN 4W BILL MAY 08, SETTLE MAY 13