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Free AccessMNI Asian Morning FI Technical Analysis
23 October 2017
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (Z17) Bear Channel Top Caps, 97.820 Support Key
*RES 4: 97.935 - Hourly resistance Sept 14
*RES 3: 97.928 - 55-DMA
*RES 2: 97.902 - Bollinger band top
*RES 1: 97.893 - Daily Bear channel top
*PRICE: 97.840 @ 2030GMT
*SUP 1: 97.820 - Low Oct 6
*SUP 2: 97.780 - Low Sept 28 & Oct 2
*SUP 3: 97.760 - Hourly resistance Sept 21 now support
*SUP 4: 97.720 - 2017 Low Sept 20
*COMMENTARY: The daily bear channel top is currently capping with the 97.893-950
region now key. Bulls need a close above 97.950 to confirm a break of the 55-DMA
and shift focus to 98.001-050 where 100 & 200-DMAs are situated. The 87.820
support remains key. Bears continue to look for a close below this level to
shift focus back to 2017 lows. Daily studies are well placed for further losses.
AUSSIE 10-YR TECHS: (Z17) Closes Below 21-DMA
*RES 4: 97.2500 - High Oct 18
*RES 3: 97.2400 - Hourly support Oct 18 now resistance
*RES 2: 97.1850 - Low Oct 17 now resistance
*RES 1: 97.1702 - 21-DMA
*PRICE: 97.1550 @ 2030GMT
*SUP 1: 97.1450 - Hourly support Oct 12
*SUP 2: 97.1100 - Low Oct 6
*SUP 3: 97.0900 - Low Oct 2
*SUP 4: 97.0750 - Low Sept 21
*COMMENTARY: Pressure on 97.2300 resulted in a break higher last week only to be
rejected ahead of the 55-DMA with Friday's close below the 21-DMA adding weight
to the case for a move back to 97.0600-1100. A close below 97.0600 is needed to
confirm focus on 96.9600-9800 where the bear channel base is noted. Bulls now
need a close above 97.1850 to gain breathing room and above the 55-DMA (97.2669)
to shift focus higher.
US 10-YR FUTURE TECHS: (Z17) Bears Focused On July Low
*RES 4: 125-25+ High Oct 13
*RES 3: 125-16+ Hourly support Oct 16 now resistance
*RES 2: 125-05+ Hourly support Oct 19 now resistance
*RES 1: 125-01+ Hourly resistance Oct 20
*PRICE: 124-26+ @ 2030GMT
*SUP 1: 124-25+ Bollinger band base
*SUP 2: 124-22+ Low Oct 6
*SUP 3: 124-13+ Daily Bear channel base A
*SUP 4: 123-20+ Daily Bear channel base B
*COMMENTARY: The aggressive recovery from ahead of 125-01+ remained capped ahead
of the 125-16+ resistance and the bear channel top (125-10+). Layers of
resistance building is adding weight to the bearish case. Bulls need a close
above 125-16+ to ease bearish pressure and return focus to 125-25+/126-09 where
55 & 100-DMAs are situated. Bears remain focused on 124-14/22+ this week where
July lows are situated.
US 10-YR YIELD TECHS: Focus On 2.402-437
*RES 4: 2.437 - High Mar 23
*RES 3: 2.423 - Monthly High Aug May 11
*RES 2: 2.402 - High Oct 6
*RES 1: 2.392 - High Oct 20
*PRICE: 2.381 @ 2030GMT
*SUP 1: 2.350 - Hourly support Oct 20
*SUP 2: 2.332 - Alternating hourly support/resistance
*SUP 3: 2.296 - Low Oct 17
*SUP 4: 2.278 - Low Oct 16
*COMMENTARY: The 2.278 support confirmed significance with the yield supported
on dips back towards this level retaining bullish control. Focus remains on the
2.402-437 resistance region this week with bulls needing a close above to shift
initial focus to 2.544-558. The 2.332-350 support region is key today with bears
needing a close below to ease bullish pressure and see pressure back on the key
2.278 support below which targets 2.208-245.
JGB TECHS: (Z17) Focus Shifts To 150.06-08
*RES 4: 150.46 - 200-DMA
*RES 3: 150.43 - 21-DMA
*RES 2: 150.39 - Hourly support Oct 20 now resistance
*RES 1: 150.34 - Hourly resistance Oct 20
*PRICE: 150.24 @ 2030GMT
*SUP 1: 150.18 - Hourly support Oct 3
*SUP 2: 150.08 - Low Oct 3
*SUP 3: 150.06 - Low July 20, Bollinger band base
*SUP 4: 149.92 - Low July 14
*COMMENTARY: Sideways trading defined most of last week with the contract capped
ahead of layers of resistance 150.46-51 where 100 & 200-DMAs are located. The
21-DMA capped Friday with a close below 150.26 shifting focus to 150.06-08
supports this week. Below 150.06 shifts overall focus back to 149.65 July lows.
Bulls now need a close above 150.39 to return pressure to 150.43-51. Daily
studies are well placed for a fresh leg lower.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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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.