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Free AccessMNI Asian Morning FI Technical Analysis
22 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: 98.974 - 55-DMA
*RES 3: 98.962 - 100-DMA
*RES 2: 98.910 - Hourly resistance Dec 18
*RES 1: 98.855 - High Dec 21
*PRICE: 97.830 @ 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: Recent 2mth lows add weight to the bearish case with focus firmly
on 97.720-820 where 2017 lows are located. The Bollinger base (97.814) and O/S
daily studies are concerns for bears with potential to limit follow through. In
saying that, bulls look for a close above 97.855 to gain breathing room and
above 97.910 to shift focus back to 97.962-98.015 where key DMAs are clustered.
AUSSIE 10-YR TECHS: (H18) Potential For Move Targeting 97.0750-0900
*RES 4: 97.5486 - 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: 97.3050 @ 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 (97.3226) confirmed
focus on 97.2200-2600 and potentially targets a move back to 97.0750-0900.
Resistance layers are building and weighing with bulls still 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: 124-05 Hourly support Dec 13 now resistance
*RES 3: 123-29+ Low Dec 13 now resistance
*RES 2: 123-27 Lows Oct 25 & 27 now resistance
*RES 1: 123-21 Hourly resistance Dec 20
*PRICE: 123-16 @ 2030GMT
*SUP 1: 123-07+ High Mar 13 now support
*SUP 2: 123-02+ 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 124-17+/23+ resistance
region where the bear channel top and 55-DMA are located resulted in a break of
key supports and bears 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 (123-17+) is a concern. Layers of resistance are weighing with
bulls needing a close above 124-05 to return focus to 124-17+/23+.
US 10-YR YIELD TECHS: 2.423-472 Support Key
*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: 2.483 @ 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
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
need a close below 2.472 to ease immediate bullish pressure and below 2.423 to
confirm a correction back to 2.344-376.
JGB TECHS: (H18) Bulls Need Close Above 150.81
*RES 4: 151.05 - High Dec 8
*RES 3: 151.01 - High Dec 18
*RES 2: 150.93 - Hourly support Dec 19 now resistance
*RES 1: 150.81 - Hourly support Dec 20 now resistance
*PRICE: 150.72 @ 2030GMT
*SUP 1: 150.65 - Hourly support Dec 21
*SUP 2: 150.53 - Low Dec 21
*SUP 3: 150.08 - Monthly Low Oct 3
*SUP 4: 150.06 - Low July 20
*COMMENTARY: The lack of follow through on the marginal break of 150.54 is less
than ideal for bears who now look for a close below 150.53 to confirm focus on
150.06-19 where monthly lows are noted. Daily studies are well placed for
further losses. Bulls still need a close above 150.81 to ease bearish pressure
and shift initial focus back to 151.01-05.
--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.