Resistance 3: 1.9850

Resistance 2: 1.9820

Resistance 1: 1.9780

Latest New York: 1.9750

Support 1: 1.9700

Support 2: 1.9680


Rate back below the 1.9900 handle on the day; look for continued pressure back to the support zone around the 1.9750 area.

Stops drove trade lower overnight and rate is holding lows in early New York action. Close below the 1.9800 handle opens the door for a test of the 1.9700 handle but first a bounce is likely; SELL THE BOUNCE in my view.

Upside is limited in my view but ranges can be wide as evidenced by the past 48 hours of trade. Sell rallies if not short; buying dips dangerous in my view.

Aggressive traders can sell over the 1.9820 area during the day.

Analysis by: written by Jason Alan Jankovsky


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