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Free AccessMNI Asian Morning FI Technical Analysis
21 December 2017
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (H18) Immediate Focus On 97.720-820 Support Region
*RES 4: 98.065 - Hourly resistance Dec 4, High Dec 8
*RES 3: 98.015 - High Dec 12
*RES 2: 98.975 - 55-DMA
*RES 1: 98.910 - Hourly resistance Dec 18
*PRICE: 97.840 @ 2030GMT
*SUP 1: 97.820 - Repeated daily lows
*SUP 2: 97.770 - Low Sept 22
*SUP 3: 97.720 - 2017 Low Sept 21
*SUP 4: 97.605 - 2015 Low Dec 12
*COMMENTARY: Continued fresh 2mth lows add weight to the bearish case with focus
firmly on the 97.720-820 support region where 2017 lows are located. The
Bollinger base (97.840) and O/S daily studies are concerns for bears with
potential to limit follow through. In saying that, bulls continue to look for a
close above 97.910 to ease immediate bearish pressure and above the 55-DMA to
hint at a move back to 98.110-130 with above 98.065 to confirm.
AUSSIE 10-YR TECHS: (H18) Potential For Move Targeting 97.0750-0900
*RES 4: 97.5118 - Bollinger band top
*RES 3: 97.5000 - Hourly resistance Dec 1, High Dec 8
*RES 2: 97.4400 - High Dec 18
*RES 1: 97.3650 - Low Dec 17 now resistance
*PRICE: 97.3100 @ 2030GMT
*SUP 1: 97.2600 - High Oct 30 now support
*SUP 2: 97.2200 - High Oct 25 now support
*SUP 3: 97.1450 - Low Oct 25
*SUP 4: 97.0900 - Monthly Low Oct 3
*COMMENTARY: Having looked heavy Tuesday bears have not been disappointed with
the contract remaining heavy. The close below the 100-DMA (97.3234) confirms
focus immediate on 97.2200-2600 and potentially targets a move back to
97.0750-0900. Resistance layers are building and weighing with bulls now needing
a close above 97.3650 to ease bearish pressure and above 97.4400 to shift focus
back to 97.5200.
US 10-YR FUTURE TECHS: (H18) Bears Focused On 122-20+/123-07+
*RES 4: 124-13+ High Dec 18
*RES 3: 124-05 Hourly support Dec 13 now resistance
*RES 2: 123-29+ Low Dec 13 now resistance
*RES 1: 123-27 Lows Oct 25 & 27 now resistance
*PRICE: 123-14+ @ 2030GMT
*SUP 1: 123-07+ High Mar 13 now support
*SUP 2: 123-03+ Daily Bear channel base
*SUP 3: 122-20+ Monthly Low Mar 14
*SUP 4: 122-14+ 2016 Low Dec 15 2016
*COMMENTARY: Repeated topside failures ahead of the key 124-18+/23+ resistance
region where the bear channel top and 55-DMA are located resulted in a break of
key supports and bears now focused on 122-20+/123-07+ where monthly lows and the
bear channel base are noted. Daily studies are well placed for losses but the
Bollinger base (123-21+) is a concern. Layers of resistance are weighing with
bulls needing a close above 124-05 to return focus to 124-18+/23+.
US 10-YR YIELD TECHS: Rally Targeting 2017 High
*RES 4: 2.641 - 2016 High Dec 15
*RES 3: 2.628 - 2017 High Mar 13
*RES 2: 2.544 - High Mar 17
*RES 1: 2.536 - Weekly Bear channel top (Off 2014 high)
*PRICE: 2.495 @ 2030GMT
*SUP 1: 2.472 - Hourly support Dec 20
*SUP 2: 2.443 - Hourly support Dec 19
*SUP 3: 2.423 - Hourly support Dec 19a
*SUP 4: 2.401 - Hourly resistance Dec 19 now support
*COMMENTARY: Pressure on the channel base failed to produce a break lower with
the correction higher seeing a close above 2.477 shift bullish focus to tests of
2.628-641 where 2017 & 2016 highs are situated. Daily studies remain well placed
for gains. Layers of support are building and providing bulls confidence. Bears
now look for a close below 2.423 to ease immediate bullish pressure and confirm
a correction back to 2.344-374.
JGB TECHS: (H18) Below 150.54 Confirms Focus On 150.06-19
*RES 4: 151.01 - High Dec 18
*RES 3: 150.93 - Hourly support Dec 19 now resistance
*RES 2: 150.81 - Hourly support Dec 20 now resistance
*RES 1: 150.70 - 55-DMA
*PRICE: 150.84 @ 2030GMT
*SUP 1: 150.61 - 200-DMA
*SUP 2: 150.54 - High Nov 2 now support
*SUP 3: 150.08 - Monthly Low Oct 3
*SUP 4: 150.06 - Low July 20
*COMMENTARY: The sell-off that has defined the week so far sees immediate focus
on 150.54-61 where the 200-DMA is located. Bears now look for a close below
150.54 to confirm focus on 150.06-19 where monthly lows are noted. Daily studies
are well placed for further losses. Bulls now need a close above 150.81 to ease
bearish pressure and shift initial focus back to 151.01.
--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.