OIL: Oil End of Day Summary: WTI Rises on Week

• Tsys futures extend highs (TYM5 currently 110-22.5 last, +5) after the $44B 7Y note auction (91282CMR9) stops 10bp through with 4.194% high yield vs. WI of 4.204%; bid-to-cover steady at 2.64x.
• Peripheral stats: Indirect take-up slips to 66.06% vs. 67.08% prior; Direct take-up  25.16% vs. 23.06% prior; Dealers take 8.78% vs. 9.86% prior.
• The next 7Y Treasury auction is tentatively scheduled for March 27.

• US TSY 7Y NOTE AUCTION: HIGH YLD 4.194%; ALLOTMENT 5.81%
• US TSY 7Y NOTE AUCTION: DEALERS TAKE 8.78% OF COMPETITIVES
• US TSY 7Y NOTE AUCTION: DIRECTS TAKE 25.16% OF COMPETITIVES
• US TSY 7Y NOTE AUCTION: INDIRECTS TAKE 66.06% OF COMPETITIVES
• US TSY 7Y AUCTION: BID/CVR 2.64

• RES 4: 1.0677 50.0% retracement of the Sep 25 ‘24 - Feb 3 bear leg   
• RES 3: 1.0630 High Dec 6 ‘24
• RES 2: 1.0594 High Dec 9 ‘24
• RES 1: 1.0533 High Jan 27 and a reversal trigger
• PRICE: 1.0513 @ 16:12 GMT Feb 26
• SUP 1: 1.0440/01 50-day EMA / Low Feb 19
• SUP 2: 1.0373 Low Feb 13 
• SUP 3: 1.0317 Low Feb 12  
• SUP 4: 1.0280 Low Feb 10 and a key support 

Short-term bullish conditions in EURUSD remain intact and price is trading at its recent highs. Attention is on resistance at 1.0533, the Jan 27 high and a reversal trigger. Clearance of this level would strengthen a bullish condition and pave the way for a climb towards 1.0630, the Dec 6 high. For bears, initial firm support to watch lies at 1.0401, the Feb 19 low. A breach of this support would signal a potential reversal threat.