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Market News Topics
December 28, 2017 20:00 GMT
MNI Asian Morning FI Technical Analysis
29 December 2017
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (H18) Bulls Need Close Above 97.855
*RES 4: 97.971 - 55-DMA
*RES 3: 97.955 - 100-DMA
*RES 2: 97.910 - Hourly resistance Dec 18
*RES 1: 97.855 - High Dec 21
*PRICE: 97.805 @ 2030GMT
*SUP 1: 97.770 - Low Sept 22
*SUP 2: 97.720 - 2017 Low Sept 21
*SUP 3: 97.605 - 2015 Low Dec 12
*SUP 4: 97.550 - Monthly Low Dec 3 2014
*COMMENTARY: O/S daily studies appear to be impacting with hesitation ahead of
the 97.720-770 support region resulting in a bounce Wednesday. Bulls continue to
look for a close above 97.855 to ease bearish pressure and above 97.910 to shift
immediate focus back to 97.955-98.041 where key DMAs are clustered. While 97.855
caps bears remain focused on tests of 2017 lows.
AUSSIE 10-YR TECHS: (H18) Bulls Need Close Above 21-DMA
*RES 4: 97.4400 - High Dec 18
*RES 3: 97.4064 - 21-DMA
*RES 2: 97.3650 - Low Dec 17 now resistance
*RES 1: 97.3575 - 55-DMA
*PRICE: 97.3050 @ 2030GMT
*SUP 1: 97.2800 - Hourly resistance Dec 27 now support
*SUP 2: 97.2400 - Low Dec 27
*SUP 3: 97.2200 - High Oct 25 now support
*SUP 4: 97.2105 - 200-WMA
*COMMENTARY: Bears failed to trouble the key 97.2200 support with O/S daily
studies impacting and the contract correcting back towards layers of resistance.
Bulls now need a close above the 21-DMA to end bearish hopes and shift immediate
focus to tests of 97.5200 Nov highs. Support layers are building and adding to
bullish confidence. Bears now need a close below 97.2800 to retain focus on
97.2200-2400.
US 10-YR FUTURE TECHS: (H18) Bears Need Close Below 123-21+
*RES 4: 124-23 High Dec 6
*RES 3: 124-18+ Daily Bear channel top
*RES 2: 124-15+ 55-DMA
*RES 1: 124-03+ 21-DMA
*PRICE: 123-26 @ 2030GMT
*SUP 1: 123-21+ High Dec 27 now support
*SUP 2: 123-12+ Low Dec 21
*SUP 3: 123-07+ High Mar 13 now support
*SUP 4: 123-00+ Daily Bear channel base
*COMMENTARY: Bulls take comfort in the bounce Wednesday that saw bearish
pressure eased and focus return to layers of resistance 124-03/23 where 21 &
55-DMAs and the bear channel top are situated. Bulls need a close above 124-23
to hint at a move back to 125-25+. The 123-21+ support remains key. Bears need a
close below this level to reconfirm dominance and return pressure to 123-00+/12+
where the bear channel base is noted.
US 10-YR YIELD TECHS: Focus Now On 2.344-398
*RES 4: 2.504 - High Dec 21
*RES 3: 2.479 - High Dec 27
*RES 2: 2.459 - Low Dec 26 now resistance
*RES 1: 2.441 - High Dec 28
*PRICE: 2.432 @ 2030GMT
*SUP 1: 2.402 - 21-DMA
*SUP 2: 2.373 - 55-DMA
*SUP 3: 2.344 - Low Dec 14
*SUP 4: 2.298 - 200-DMA
*COMMENTARY: Hesitation ahead of the weekly bear channel top (2.534) combined
with waning momentum provided the impetus for a correction that eased bullish
pressure. Focus returned to 2.344-402 where key DMAs and the bull channel base
are noted. Bears now need a close below 2.344 to confirm breaks and initially
pressure the 200-DMA. Bulls now need a close above 2.441 to gain breathing room
and above 2.479 to shift focus higher.
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 was less
than ideal for bears who continue to look for a close below 150.53 to confirm
focus on 150.06-19 where monthly lows are noted. Initial resistance remains at
150.81. Bulls still need a close above 150.81 to ease bearish pressure and shift
initial focus back to 151.01-05 with potential for a move back to 151.19-21
where monthly highs are noted.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
To read the full story
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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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