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August 06, 2017 22:02 GMT
MNI Asian Morning FI Technical Analysis
7 August 2017
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (U17) Capped Around 200-DMA
*RES 4: 98.188 - 55-WMA
*RES 3: 98.127 - 55-DMA
*RES 2: 98.125 - 100-DMA
*RES 1: 98.086 - 200-DMA
*PRICE: 98.050 @ 2130GMT
*SUP 1: 98.030 - Low Aug 4
*SUP 2: 98.010 - Repeated Daily Lows
*SUP 3: 98.006 - 21-DMA
*SUP 4: 97.980 - Alternating daily support/resistance
*COMMENTARY: The rally that defined most of last week is struggling having
stalled around the 200-DMA and looking a little heavy. Bears continue to look
for a close below the 21-DMA to confirm an easing of bullish pressure and to
hint at a move back to 97.810-860 with below 97.980 confirming. Correcting O/B
studies add weight to the bearish case. Bulls now need a close above the 200-DMA
to reconfirm a bullish bias and initially target 55 & 100-DMAs.
AUSSIE 10-YR TECHS: (U17) 97.3150 Support Key Today
*RES 4: 97.4995 - 55-WMA
*RES 3: 97.4366 - 55-DMA
*RES 2: 97.3969 - 100-DMA
*RES 1: 97.3550 - Alternating hourly support/resistance
*PRICE: 97.3500 @ 2130GMT
*SUP 1: 97.3150 - Hourly support Aug 3
*SUP 2: 97.2500 - Low July 27
*SUP 3: 97.2318 - Bollinger band base
*SUP 4: 97.2100 - Monthly Low July 20
*COMMENTARY: Bulls are struggling to gain traction above the 200-DMA (97.3391)
with the contract remaining capped around the 100-DMA. The 97.3150 support
remains key with bears needing a close below to end bullish hopes and shift
focus back to 97.1650-2100. Daily studies looking to correct from modestly O/B
levels adds weight to the bearish case. Bulls need a close above the 55-DMA to
reconfirm a bullish bias and above 97.5200 to target 2017 highs.
US 10-YR FUTURE TECHS: (U17) Bears Need Close Below 21-DMA
*RES 4: 126-200 - Bollinger band top
*RES 3: 126-160 - Low June 21 now resistance
*RES 2: 126-090 - Hourly support Aug 4 now resistance
*RES 1: 126-050 - Hourly resistance Aug 4
*PRICE: 126-020 @ 2130GMT
*SUP 1: 126-020 - Hourly support Aug 4
*SUP 2: 125-290 - Hourly resistance Aug 1 now support
*SUP 3: 125-260 - 21-DMA
*SUP 4: 125-150 - Low July 25
*COMMENTARY: Bulls failed to test the 126-160 resistance Friday with the
sell-off leaving the contract looking a little heavy. Bears now need a close
below the 21-DMA to add weight to their case for a correction with below the
100-DMA (125-140) needed to shift focus back to 124-110/250. The 126-050/090
resistance region is now key. Bulls look for a close above 126-090 to gain
breathing room and above 126-160 to shift focus to 126-290/127-080.
US 10-YR YIELD TECHS: Bulls Need Close Above 200-DMA
*RES 4: 2.337 - Hourly resistance July 14
*RES 3: 2.321 - High Aug 1
*RES 2: 2.309 - 200-DMA
*RES 1: 2.289 - High Aug 4
*PRICE: 2.269 @ 2130GMT
*SUP 1: 2.257 - Hourly support Aug 4
*SUP 2: 2.237 - Hourly resistance Aug 4 now support
*SUP 3: 2.218 - Low Aug 3
*SUP 4: 2.177 - High June 21 now support
*COMMENTARY: The rally Friday provides bulls breathing room but a close above
the 200-DMA is needed to confirm a return in focus to 2.237-396 where the daily
bear channel top (2.343) is noted. The 2.237-2.257 support region is now key.
Bears need a close below 2.237 to ease renewed bullish pressure and below 2.218
to reconfirm focus on tests of 2017 lows. The Bollinger base (2.206) is the key
concern for bears with potential to limit follow through.
JGB TECHS: (U17) Capped Ahead Of 55-DMA
*RES 4: 150.49 - 200-DMA
*RES 3: 150.47 - 100-DMA
*RES 2: 150.33 - High July 25, 55-DMA
*RES 1: 150.30 - High Aug 4
*PRICE: 150.21 @ 2130GMT
*SUP 1: 150.11 - Low Aug 2
*SUP 2: 150.10 - 21-DMA
*SUP 3: 150.06 - Low July 20
*SUP 4: 150.03 - Low July 18
*COMMENTARY: Support emerging ahead of the 21-DMA and key 150.03-08 support
region provided the catalyst for a bounce last week only to be capped ahead of
the 55-DMA Friday. The 150.30-49 resistance region remains key. Bulls need a
close above the 200-DMA to confirm a bullish bias and shift immediate focus to
150.67. Bears continue to look for a close below 150.03 to confirm a break of
the 21-DMA and shift focus back to 149.65.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
To read the full story
Close
Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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