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MNI: PBOC Drains Net CNY68 Bln Via OMO Mon; Rates Unchanged

CHINA PBOC INJECTS CNY32 BILLION VIA 7-DAY REVERSE REPOS MON

MNI China Press Digest Jan 19: MLF, Property, Tourism

Bond Supply Calendar: EU Synd; UK, DE, FI Auct; IT Exch Tues

EZ/UK T-Bill Calendar: 6-Month ESM-Bill Auction on Tuesday

PBoC Data Watch

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

MNI BRIEF: Canada Needs CAD1 Trln To Fix Housing Squeeze- CMHC

MNI BRIEF: Canada Shows No Progress Closing Housing Shortfall

MNI Asian Morning FI Technical Analysis 

24 April 2018
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (M18) Below 97.690 Initially Targets 2015 Low 
*RES 4: 97.840 - High Apr 12 
*RES 3: 97.795 - High Apr 16 
*RES 2: 97.760 - High Apr 18 
*RES 1: 97.695 - Low Apr 19 now resistance
*PRICE: 97.680 @ 2130GMT
*SUP 1: 97.605 - 2015 Low Dec 15 2015 
*SUP 2: 97.510 - High Nov 25 2014 now support 
*SUP 3: 97.350 - Low Oct 20 2014 
*SUP 4: 97.270 - Weekly Bear channel base
*COMMENTARY: The contract remains offered having traded at fresh 2018 & 2+yr
lows to start the new week with immediate focus shifting to 97.605. O/S daily
studies and the Bollinger base (97.681) remain key concerns for bears. In saying
that, bulls now need a close above 97.695 to gain breathing room and above
97.760 to shift focus back to 97.795-865 where 21 (97.798), 55 (97.842) & 100
(97.854) DMAs are situated.
     AUSSIE 10-YR TECHS: (M18) Above 97.1350 To Gain Breathing Room 
*RES 4: 97.2286 - 55-DMA
*RES 3: 97.2100 - Low Apr 17 now resistance
*RES 2: 97.1850 - Hourly resistance Apr 20
*RES 1: 97.1350 - Alternating hourly support/resistance
*PRICE: 97.1050 @ 2130GMT
*SUP 1: 97.0800 - Low Feb 21
*SUP 2: 97.0688 - Weekly Bull channel base off 2008 Low
*SUP 3: 97.0450 - 2018 Low Feb 6
*SUP 4: 96.9650 - Monthly Low Dec 7 2015
*COMMENTARY: Losses continue and add to bearish confidence with the contract
remaining offered and bears focused on 97.0450-0800 where the weekly bull
channel base off 2008 lows is located. O/S studies and the Bollinger base
(97.1239) remain key concerns for bears. Bulls now need a close above 97.1350 to
gain breathing room and above the 21-DMA (97.2848) to shift initial focus back
to 97.3600 and overall focus to 97.4000-4400.
     US 10-YR FUTURE TECHS: (M18) Below 119-14 Targets 117-22+/118-24
*RES 4: 120-06+ High Apr 19
*RES 3: 120-02+ Low Apr 18 now resistance
*RES 2: 119-29+ High Apr 20
*RES 1: 119-14+ Hourly resistance Apr 23
*PRICE: 119-10+ @ 2130GMT
*SUP 1: 118-24  Low Apr 13 2011
*SUP 2: 117-29+ Monthly Low Apr 8 2011
*SUP 3: 117-25  Weekly Bear channel base
*SUP 4: 117-22  2011 Low Feb 22
*COMMENTARY: The contract remains offered having traded at fresh 2018 & 7yr lows
Monday seeing bears now targeting 117-22+/118-24 where the weekly bear channel
base and 2011 low are located. The Bollinger base 119-18+ remains the key
concern for bears. Bulls now need a close above 119-14+ to gain breathing room
and above Y120-06+ to initially target a correction back to 120-21+/24.
     US 10-YR YIELD TECHS: Focus Shifts To 3.041-073
*RES 4: 3.223 - Monthly High July 1 2011 
*RES 3: 3.168 - Weekly Bull channel top 
*RES 2: 3.073 - Low July 6 2011 now resistance 
*RES 1: 3.041 - 2014 High Jan 2
*PRICE: 2.977 @ 2130GMT
*SUP 1: 2.962 - High Apr 20 now support 
*SUP 2: 2.925 - Hourly support Apr 20 
*SUP 3: 2.904 - Low Apr 20 
*SUP 4: 2.876 - High Apr 18 now support
*COMMENTARY: The 21-DMA (2.823) provided the base for a rally to fresh 2018 &
4+yr highs with immediate bullish focus on 3.041-073 where 2014 highs are
situated. O/B studies and the Bollinger top (2.944) are key concerns for bulls
with potential to limit follow through. In saying that, bears now need a close
below 2.962 to ease bullish pressure and below 2.876 to shift initial focus back
to 2.814-876 where the 21-DMA is found.
     JGB TECHS: (M18) 150.66-82 Resistance Region Now Key
*RES 4: 150.86 - Hourly resistance Apr 19
*RES 3: 150.82 - 55-DMA
*RES 2: 150.75 - 100-DMA
*RES 1: 150.66 - Hourly resistance Apr 20
*PRICE: 150.55 @ 2130GMT
*SUP 1: 150.52 - Hourly support Apr 23 
*SUP 2: 150.43 - Low Apr 23 
*SUP 3: 150.36 - High Feb 1 now support 
*SUP 4: 150.09 - 2018 Low Feb 2
*COMMENTARY: Follow through was lacking to start the new week courtesy of the
Bollinger band base (150.62) and daily studies approaching O/S. Bears now look
for a close below 150.36 to confirm focus on tests of 2018 lows. Bulls need a
close above 150.66 to gain breathing room and above the 55-DMA to shift focus
back to 150.95-151.06.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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