US 10YR FUTURE TECHS: (M5) Bear Cycle Extension

• After printing a new 5yr low Overnight, the AUDUSD is still recovering, the Aussie is the early best performer within G10s against the Dollar, up 0.94%.
• Yesterday's high is situated at 0.6085, so far printed a 0.6029 high.

• RES 4: 114-10   High Apr 7 and the bull trigger  
• RES 3: 113-09+ 76.4% retracement of the Apr 7 - 9 sell-off
• RES 2: 112-21+ 61.8% retracement of the Apr 7 - 9 sell-off   
• RES 1: 112-08   High Apr 7 
• PRICE:‌‌ 110-23 @ 11:01 BST Apr 9 
• SUP 1: 110-01   Intraday low 
• SUP 2: 109-29   Trendline support drawn from the Jan 13 low  
• SUP 3: 109-13+ Low Feb 24  
• SUP 4: 108-26+ 76.4% of the Jan 13 - Apr 7 bull cycle    

A sharp sell-off in Treasury futures this week has resulted in a breach of both the 20- and 50-day EMAs. Attention is on trendline support at 109-29, drawn from the Jan 13 low. A clear break of this support would strengthen a bearish threat. Note that the steep sell-off could still be a corrective pullback that has allowed an oversold trend condition to unwind. Initial resistance to watch is 112-08, yesterday’s high. A break would highlight a possible early reversal.

SOFR FIX - Source BBG/CME

• 1M 4.32092 0.02911
• 3M 4.22965 0.01943
• 6M 4.05294 0.01766
• 12M 3.80474 0.03121