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4 September 2017
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
AUSSIE 3-YR TECHS: (U17) Key DMAs Capping
*RES 4: 98.062 - 200-DMA
*RES 3: 98.047 - 55-DMA
*RES 2: 98.033 - Daily Bear channel top
*RES 1: 98.025 - 21-DMA
*PRICE: 97.980 @ 2130GMT
*SUP 1: 97.966 - Bollinger band base
*SUP 2: 97.930 - Low Aug 31
*SUP 3: 97.900 - Low July 21
*SUP 4: 97.864 - 200-WMA
*COMMENTARY: Despite breaking the 97.940 support Thursday, follow though has
been lacking with bulls taking comfort in a bounce Thursday. Layers of
resistance remain 98.025-130. Bulls look for a close above the 200-DMA to add
support to the case for a break higher with above 98.130 needed to end bearish
hopes, initially targeting 98.200 with overall focus shifting to 2017 highs.
Bears still need a close below 97.930 to target 2017 lows.
AUSSIE 10-YR TECHS: (U17) 97.4200-4470 Resistance Region Key
*RES 4: 97.4450 - High June 30
*RES 3: 97.4250 - High Aug 18
*RES 2: 97.4200 - High Aug 29
*RES 1: 97.3800 - High Sept 1
*PRICE: 97.3250 @ 2130GMT
*SUP 1: 97.3100 - Hourly resistance Aug 30 now support
*SUP 2: 97.3038 - Bollinger band base
*SUP 3: 97.2500 - Low July 27
*SUP 4: 97.2100 - Monthly Low July 20
*COMMENTARY: Having supported for most of August, bears failed to capitalise on
the break of the 97.3150 support and 200-DMA (97.3163) with the Bollinger band
base limiting follow through. Narrowing Bollinger bands continue to suggest a
breakout. Layers of resistance remain with bulls needing a close above the
55-WMA (97.4470) to end bearish hopes and shift focus to 97.6100-6750. Below
97.2100 initially targets 97.1650.
US 10-YR FUTURE TECHS: (U17) Bulls Need Close Above 127-030
*RES 4: 127-200 - Daily Bull channel top
*RES 3: 127-190 - 2017 High Aug 29
*RES 2: 127-090 - High Aug 31
*RES 1: 127-030 - High Sept 1
*PRICE: 126-300 @ 2130GMT
*SUP 1: 126-250 - Hourly support Aug 25
*SUP 2: 126-210 - 21-DMA
*SUP 3: 126-200 - Hourly resistance Aug 22 now support
*SUP 4: 126-160 - Low Aug 23
*COMMENTARY: The lack of topside follow through and rejection ahead of the 2017
high Friday is a concern for bulls with the Bollinger top (127-110) limiting
follow through and daily studies correcting from O/B. Layers of support remain
with bulls needing a close below the daily bull channel base to hint at a move
back to 125-290/126-070 where 55 & 100-DMAs are noted. Bulls now need a close
above 127-030 to gain breathing room.
US 10-YR YIELD TECHS: Bulls Need Close Above 2.180
*RES 4: 2.206 - Hourly support Aug 23 now resistance
*RES 3: 2.200 - 21-DMA
*RES 2: 2.180 - High Aug 28
*RES 1: 2.166 - Hourly resistance Aug 31
*PRICE: 2.157 @ 2130GMT
*SUP 1: 2.138 - Hourly support Sept 1
*SUP 2: 2.099 - Low Sept 1
*SUP 3: 2.088 - 2017 Low Aug 29
*SUP 4: 2.055 - 100-WMA
*COMMENTARY: Bulls gain confidence following Friday bounce from ahead of recent
2017 lows that sees pressure back on the 2.180 resistance. Bulls continue to
look for a close above 2.180 to shift initial focus back to 2.200-2.229. Initial
support is now noted at 2.138 with bears needing a close below to ease pressure
on 2.180 and reconfirm focus on 2.055-088 where 2017 lows and the 100-WMA are
JGB TECHS: (U17) Bears Need Close Below 151.01
*RES 4: 151.58 - Low Oct 28 now resistance
*RES 3: 151.40 - Bollinger band top
*RES 2: 151.35 - 2017 High Aug 29
*RES 1: 151.32 - High Sept 1
*PRICE: 151.21 @ 2130GMT
*SUP 1: 151.01 - High Aug 24 now support
*SUP 2: 150.95 - Alternating hourly support/resistance
*SUP 3: 150.84 - High Aug 18 now support
*SUP 4: 150.76 - 21-DMA
*COMMENTARY: Follow through remains lacking on approach to recent 2017 highs and
leaves the contract looking heavy but bears have so far failed to take out
151.01. Bears need a close below this level to shift initial focus back to
150.66-84 where the 21-DMA is situated. Bulls now look for a close above 151.35
to retain focus on 151.58-152.04 where Nov highs are situated. Very O/B studies
looking to correct are the key concern for bulls.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: firstname.lastname@example.org
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