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Market News Topics
March 01, 2018 21:35 GMT
MNI Asian Morning FI Technical Analysis
2 March 2018
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (H18) 55-DMA & 98.015 Levels Key
*RES 4: 98.015 - Alternating daily support resistance
*RES 3: 97.982 - 200-WMA
*RES 2: 97.974 - 200-DMA
*RES 1: 97.955 - High Dec 15
*PRICE: 97.945 @ 2030GMT
*SUP 1: 97.875 - Low Mar 1
*SUP 2: 97.836 - 55-DMA
*SUP 3: 97.790 - Low Feb 8
*SUP 4: 97.755 - Low Feb 5
*COMMENTARY: Support emerging on dips ensures that focus remains on layers of
resistance 97.955-98.015 resistance with key MAs and the daily bear channel top
off June highs situated in this region. Bulls need a close above 98.015 to shift
initial focus to 98.111-135 where the 100-WMA and Nov highs are noted. Bears
continue to look for a close below the 55-DMA to ease bullish pressure and below
97.790 to return initial focus to tests of 2018 lows (97.690).
AUSSIE 10-YR TECHS: (H18) Bulls Need Close Above 200-DMA
*RES 4: 97.4764 - 100-WMA
*RES 3: 97.3850 - 2018 High Jan 8
*RES 2: 97.3238 - 200-DMA
*RES 1: 97.3165 - 55-WMA
*PRICE: 97.2950 @ 2030GMT
*SUP 1: 97.2800 - Hourly resistance Mar 1 now support
*SUP 2: 97.2450 - Hourly support Mar 1
*SUP 3: 97.1950 - Low Feb 28
*SUP 4: 97.1750 - Hourly resistance Feb 23 now support
*COMMENTARY: Bulls take comfort in support emerging on dips back towards 97.175.
Bulls still need a close above the 200-DMA to hint at a move back to 97.5200 Dec
highs and above 97.3850 2018 highs to confirm. Bears still need a close below
97.1750 to shift focus back to 97.0037-0450 where 2018 lows and the LT bull
channel base are noted.
US 10-YR FUTURE TECHS: (M18) 121-01+ Resistance Now Key
*RES 4: 122-02 Monthly High Feb 6
*RES 3: 121-28+ 55-DMA
*RES 2: 121-01+ High Feb 7
*RES 1: 120-28+ Daily Bear channel top (off Jan 2 high)
*PRICE: 120-17+ @ 2030GMT
*SUP 1: 120-14 High Feb 26 now support
*SUP 2: 120-08+ 21-DMA
*SUP 3: 120-00 Alternating hourly support/resistance
*SUP 4: 119-21 Repeated Daily lows Feb
*COMMENTARY: Bulls take comfort as M18 gains traction above the 21-DMA with
immediate focus now on 120-28+/121-01+ where the bear channel top is noted.
Bulls now need a close above 121-01+ to shift initial focus to 121-28+/122-02
where the 55-DMA is located. Support layers emerging adds to bullish confidence
with bears now needing a close below the 21-DMA to gain breathing room and below
120-00 to pressure 119-14 Feb lows.
US 10-YR YIELD TECHS: Below 2.786 Targets 2.609-648
*RES 4: 2.957 - 2018 High Feb 21
*RES 3: 2.925 - High Feb 27
*RES 2: 2.875 - High Mar 1
*RES 1: 2.824 - Hourly support Mar 1 now resistance
*PRICE: 2.814 @ 2030GMT
*SUP 1: 2.786 - Low Feb 9
*SUP 2: 2.758 - Low July 2
*SUP 3: 2.648 - Low Feb 6
*SUP 4: 2.641 - 55-DMA
*COMMENTARY: The lack of topside follow through on 2018 & 4yr highs was less
than ideal for bulls who were focused on 3.041 2014. Focus has now returned to
the 2.758 support as the yield trades below the daily bull channel base and
21-DMA (2.851). Bears now look for a close below 2.786 to end bullish hopes and
shift focus back to 2.609-648 where the 55-DMA (2.641) is noted. Bulls now need
a close above 2.875 to gain breathing room.
JGB TECHS: (H18) Above 151.05 To Target 151.19-51
*RES 4: 151.51 - 2017 High Sept
*RES 3: 151.19 - Monthly High Nov 22
*RES 2: 151.16 - Bollinger band top
*RES 1: 151.05 - 2018 High Feb 27
*PRICE: 151.01 @ 2030GMT
*SUP 1: 150.98 - Hourly support Mar 1
*SUP 2: 150.85 - High Feb 22 now support
*SUP 3: 150.82 - Low Feb 23
*SUP 4: 150.71 - Repeated daily lows Feb
*COMMENTARY: Recent 2018 and 3mth highs lacked follow through & when combined
with daily momentum divergence and O/B studies in general is a concern for
bulls. Bears still need a close below 150.82 to confirm an easing of bullish
pressure and below the 200-DMA (150.60) now to confirm breaks of key DMAs and to
hint at a move back to 2018 lows. Bulls now need a close above 151.05 to confirm
focus on 151.19-51.
--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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