FED: US TSY 29Y-11M BOND AUCTION: HIGH YLD 4.773%; ALLOT 97.76%

• RES 4: 1.1728 High Oct 17
• RES 3: 1.1669 High Oct 28 and key resistance 
• RES 2: 1.1627 50-day EMA
• RES 1: 1.1606 High Nov 11
• PRICE: 1.1601 @ 16:24 GMT Nov 11
• SUP 1: 1.1469 Low Nov 5 and the bear trigger 
• SUP 2: 1.1425 1.500 proj of the Oct 17 - 22 - 28 price swing
• SUP 3: 1.1392 Low Aug 1 and bear trigger 
• SUP 4: 1.1313 Low May 30

EURUSD traded higher Tuesday. The pair has breached an initial important resistance at 1.1584, the 20-day EMA. The break paves the way for an extension of the corrective cycle, towards the 50-day EMA, at 1.1624. A clear break of the 50-day average would highlight a potentially stronger bull cycle. On the downside, a reversal would refocus attention on the bear trigger at 1.1469, the Nov 5 low. Clearance of this level would resume the downtrend.  

Tuesday's Europe rates/bond options flow included:

• SFIX5 96.20/96.25/96.30/96.35c condor, sold at 4.25 in 3.5k
• SFIG6 96.60/96.70/96.75/96.85 thin body call condor paper paid 1.5 on 9K
• SFIH6 96.60/96.75/96.90 call fly x 2 vs. 96.30/96.00 put spread paper paid 0.75 on 7.5K
• SFIM6 96.85/97.00/97.15c fly x2 vs 96.30/96.00ps, bought the fly for -0.25 in 7.5k x 3.75k
• SFIM6 96.80/96.90cs, bought for 2.25 in 3.5k
• SFIM6 96.80/96.90/97.00/97.10c condor, bought for 1.25 in 5k
• SFIZ6 96.75/97.00/97.25 call fly paper paid 3.75 on 5.25K
• SFIZ6 96.90/97.30/97.45 broken Call fly vs 96.45/96.30ps, bought the fly for 3.25 in 2k
• 0NU6 96.70/96.80 call spread and 97.10/97.20 call spread paper paid 6.25 on 7.5K

• Update over +117,000 TYF6 114 calls, 29 vs. 112-30.5 to -31.5/0.30% (open interest 51,680)