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December 05, 2017 21:27 GMT
MNI Asian Morning FI Technical Analysis
6 December 2017
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (Z17) Focus Back on Channel Base & 55-DMA
*RES 4: 98.130 - Low June 20 now resistance
*RES 3: 98.110 - High Nov 28 & 29
*RES 2: 98.060 - Hourly resistance Dec 4
*RES 1: 98.015 - Low Dec 4 now resistance
*PRICE: 97.975 @ 2030GMT
*SUP 1: 97.971 - 100-DMA
*SUP 2: 97.947 - Daily Bull channel base
*SUP 3: 97.944 - 55-DMA *SUP 4: 97.900 - Low Oct 27
*COMMENTARY: Topside failures at 98.110 have taken their toll with the close
below 98.015 seeing focus return to the 55-DMA and bull channel base although
the 100-DMA currently supports. Bears now need a close below the 55-DMA to hint
at a move back to 2017 lows with below 97.900 to confirm. Bulls now need a close
above 98.015 to gain breathing room and above 98.060 to shift focus back to
98.110-130.
AUSSIE 10-YR TECHS: (Z17) Focus Shifts To Key DMAs
*RES 4: 97.6100 - High June 27
*RES 3: 97.5228 - Bollinger band top
*RES 2: 97.5200 - Low June 20 now resistance
*RES 1: 97.4550 - High Dec 5
*PRICE: 97.3850 @ 2030GMT
*SUP 1: 97.3400 - 200-DMA
*SUP 2: 97.3088 - 100-DMA
*SUP 3: 97.2890 - 55-DMA
*SUP 4: 97.2550 - Alternating daily support/resistance
*COMMENTARY: Pressure on the 21-DMA (97.4271) took its toll with a close below
97.3950 seeing focus shift to 97.2550-3397 where 55, 100 & 200-DMAs are
situated. Daily studies remain well placed for losses although the Bollinger
base (97.3315) has potential to limit follow through. Bulls now look for a close
above 97.4550 to confirm a false break lower and return initial pressure to
97.5200.
US 10-YR FUTURE TECHS: (H18) 123-27/29+ Support Region Key
*RES 4: 125-06+ Monthly high Nov 8
*RES 3: 125-00 High Nov 28
*RES 2: 124-25+ 55-DMA
*RES 1: 124-19 Low Nov 27 now resistance
*PRICE: 124-12 @ 2030GMT
*SUP 1: 124-01+ Bollinger band base
*SUP 2: 123-29+ Monthly Low Nov 30
*SUP 3: 123-27 Lows Oct 25 & 27
*SUP 4: 123-09+ Daily Bear channel base
*COMMENTARY: Hesitation ahead of the 123-27/29+ region is less than ideal for
bears who look for a close below 123-27 to confirm focus on the daily bear
channel base. The marginal close above 124-10+ provides bulls hope and sees
focus back on the 124-19/125-00 region. Overall bulls need a close above 125-00
to confirm breaks of the channel top (124-27+) and 55-DMA and hint at a move
back to 125-25+.
US 10-YR YIELD TECHS: 2.273 & 2.477 Levels Remain Key
*RES 4: 2.477 - Monthly High Oct 27
*RES 3: 2.437 - High Nov 30
*RES 2: 2.424 - High Dec 1
*RES 1: 2.395 - High Dec 5
*PRICE: 2.354 @ 2030GMT
*SUP 1: 2.340 - 55-DMA
*SUP 2: 2.330 - Daily Bull channel base
*SUP 3: 2.303 - 200-DMA
*SUP 4: 2.283 - 100-DMA
*COMMENTARY: Failure ahead of last week's high has left the yield looking heavy
and focus back on layers of support. Bears continue to look for a close below
2.273 to end bullish hopes and shift initial focus back to 2.171-185 where the
200-WMA is noted. Bulls now need a close above Tuesday's high to ease bearish
pressure and above 2.477 Oct highs to target 2.544-2.628 where 2017 highs are
situated.
JGB TECHS: (Z17) Above 151.00 Shifts Focus Back to 151.19-21
*RES 4: 151.21 - Low Sept 2 now resistance
*RES 3: 151.19 - Monthly high Nov 22
*RES 2: 151.13 - High Nov 24
*RES 1: 151.00 - Hourly resistance Dec 4
*PRICE: 150.96 @ 2030GMT
*SUP 1: 150.84 - Alternating hourly support/resistance
*SUP 2: 150.75 - Low Dec 5
*SUP 3: 150.66 - 55-DMA
*SUP 4: 150.64 - 100-DMA
*COMMENTARY: The lack of follow through on the dip below 150.84 is less than
ideal for bears with the bounce seeing 151.00 resistance key today. Bulls now
need a close above this level to shift focus away from the 150.54-66 region and
back to 151.19-21. Bulls still need a close above 151.21 to shift focus to tests
of the 151.49-52 where 2017/Sept highs and the daily bull channel top are
situated. Below 150.75 is needed to reconfirm focus on key DMAs.
--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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