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December 06, 2017 20:58 GMT
MNI Asian Morning FI Technical Analysis
7 December 2017
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (Z17) Bulls Need Close Above 98.060
*RES 4: 98.130 - Low June 20 now resistance
*RES 3: 98.110 - High Nov 28 & 29
*RES 2: 98.100 - Daily Bear channel top
*RES 1: 98.060 - Hourly resistance Dec 4
*PRICE: 98.045 @ 2030GMT
*SUP 1: 98.020 - Hourly support Dec 6
*SUP 2: 98.000 - Hourly resistance Dec 6 now support
*SUP 3: 97.951 - Daily Bull channel base
*SUP 4: 97.949 - 55-DMA
*COMMENTARY: The bounce from ahead of the daily bull channel base and 55-DMA
eased immediate bearish pressure with bulls now needing a close above 98.060 to
return focus to 98.100-130 where the bear channel top and monthly highs are
located. Layers of support are building with bears now needing a close below
98.000 to return pressure to 97.949-960 where the 55-DMA and bull channel base
are noted.
AUSSIE 10-YR TECHS: (Z17) Bounce Sees 97.5000-5200 The Focus Now
*RES 4: 97.6100 - High June 27
*RES 3: 97.5276 - Bollinger band top
*RES 2: 97.5200 - Low June 20 now resistance
*RES 1: 97.5000 - Hourly resistance Dec 1
*PRICE: 97.4750 @ 2030GMT
*SUP 1: 97.4550 - Hourly support Dec 6
*SUP 2: 97.4200 - Hourly support Dec 6a
*SUP 3: 97.3750 - Low Dec 5
*SUP 4: 97.3407 - 200-DMA
*COMMENTARY: Time spent below the 21-DMA (97.4307) was brief with the aggressive
bounce seeing focus return to the 97.5200 resistance. Bulls need a close above
this level to shift focus to 97.6100-6750 where 2017 highs are located. The
Bollinger top is the key concern for bulls with potential to limit follow
through. Bears now need a close below 97.4550 to ease pressure on resistance
layers and shift focus back to 97.2940-3407 where the 200-DMA is noted.
US 10-YR FUTURE TECHS: (H18) Layers of Resistance 124-25+/125-00
*RES 4: 125-06+ Monthly high Nov 8
*RES 3: 125-00 High Nov 28
*RES 2: 124-26+ Daily Bear channel top
*RES 1: 124-24+ 55-DMA
*PRICE: 124-19+ @ 2030GMT
*SUP 1: 124-12+ High Dec 5
*SUP 2: 124-09+ Low Dec 6
*SUP 3: 124-02+ Low Dec 5
*SUP 4: 123-29+ Monthly Low Nov 30
*COMMENTARY: Hesitation ahead of the 123-27/29+ region has seen pressure return
to layers of resistance 124-25+/125-00 where the bear channel top and 55-DMA are
noted. Bulls need a close above 125-00 to shift immediate focus to 125-06+/14+
and overall focus to 125-25+. The 124-09+/12+ support region is key today. Bears
look for a close below 124-09+ to shift focus back to 123-27/29+.
US 10-YR YIELD TECHS: Below 2.273 To Target 2.171-185
*RES 4: 2.424 - High Dec 1
*RES 3: 2.395 - High Dec 5
*RES 2: 2.363 - High Dec 6
*RES 1: 2.345 - Hourly resistance Dec 6
*PRICE: 2.3268 @ 2030GMT
*SUP 1: 2.303 - 200-DMA
*SUP 2: 2.283 - 100-DMA, 21-WMA
*SUP 3: 2.273 - Monthly Low Oct 13
*SUP 4: 2.245 - High Sept 26 now support
*COMMENTARY: Failure ahead of last week's high 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 Wednesday'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: 150.90 @ 2030GMT
*SUP 1: 150.84 - Alternating hourly support/resistance
*SUP 2: 150.75 - Low Dec 5
*SUP 3: 150.66 - 55-DMA
*SUP 4: 150.58 - 200-DMA
*COMMENTARY: The lack of follow through on the dip below 150.84 was less than
ideal for bears with the bounce seeing 151.00 resistance now key. Bulls 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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