MNI Asian Morning FI Technical Analysis

7 May 2018

By Kyle Shortland

Click below for today's MNI FI Technical Analysis Report -

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (M18) Bears Need Close Below 97.730 

*RES 4: 97.901 - 200-DMA 

*RES 3: 97.865 - High Apr 10 

*RES 2: 97.829 - 55-DMA 

*RES 1: 97.820 - High May 4

*PRICE: 97.790 @ 2130GMT

*SUP 1: 97.750 - Lows May 3 & 4 

*SUP 2: 97.730 - Repeated daily resistance now support 

*SUP 3: 97.675 - 2018 Low Apr 24 

*SUP 4: 97.605 - 2015 Low Dec 15 2015

*COMMENTARY: The recovery from 2018 lows is hesitating ahead of the 55 &

100-DMAs with topside follow through lacking Friday. Bulls now need a close

above 97.865 to shift focus to 97.901-955 where the 200-DMA is found. The 97.730

support remains key this week. Bears need a close below this level to shift

immediate focus back to 2018 lows and overall focus to 2015 lows.

     AUSSIE 10-YR TECHS: (M18) Bulls Need Close Above 200-WMA 

*RES 4: 97.3600 - High Apr 9

*RES 3: 97.3096 - 200-WMA

*RES 2: 97.2778 - 200-DMA

*RES 1: 97.2600 - High Apr 18

*PRICE: 97.2150 @ 2130GMT

*SUP 1: 97.1500 - High Apr 24 now support

*SUP 2: 97.0800 - Low Feb 21

*SUP 3: 97.0688 - Weekly Bull channel base off 2008 Low

*SUP 4: 97.0450 - 2018 Low Feb 6

*COMMENTARY: Hesitation ahead of the 97.0450-0800 support region has resulted in

a correction that sees immediate focus on 97.2600-3096 where the 200-WMA is

located. Bulls now need a close above the 200-WMA to shift initial focus to

97.4000-4400. Follow through was lacking Friday and bears now look for a close

below 97.1500 to retain initial focus on 2018 lows.

     US 10-YR FUTURE TECHS: (M18) 119-08 Support Remains Key

*RES 4: 120-20+ Hourly resistance Apr 12

*RES 3: 120-06+ High Apr 19, 55-DMA

*RES 2: 120-02+ Low Apr 18 now resistance

*RES 1: 119-31+ 21-DMA

*PRICE: 119-22+ @ 2130GMT

*SUP 1: 119-08  Low May 2

*SUP 2: 118-31  2018 Low Apr 25

*SUP 3: 118-24  Low Apr 13 2011

*SUP 4: 117-29+ Monthly Low Apr 8 2011

*COMMENTARY: Bulls took comfort in support emerging on the dip below 119-09

Wednesday with bears now needing a close below 119-08 to ease renewed bullish

pressure and return initial focus to 2018 lows. Correcting O/S daily studies

remain the key concern for bears. Bulls now look for a close above Y120-06+ to

initially target a correction back to 120-20+/24 and above 120-24 to shift focus

to 121-04+/12 with the 100-DMA at 121-04+.

     US 10-YR YIELD TECHS: Bears Now Need Close Below 55-DMA

*RES 4: 3.041 - 2014 High Jan 2 

*RES 3: 3.035 - 2018 High Apr 25 

*RES 2: 3.018 - Hourly support Apr 26 now resistance 

*RES 1: 2.996 - High May 2

*PRICE: 2.944 @ 0430GMT

*SUP 1: 2.904 - Low Apr 20 

*SUP 2: 2.899 - 21-DMA 

*SUP 3: 2.876 - High Apr 18 now support 

*SUP 4: 2.868 - 55-DMA

*COMMENTARY: Hesitation ahead of 2014 highs & 3.041-073 is a concern given daily

studies correcting from O/B). The 3.041-3.073 resistance region remains key with

bulls needing a close above 3.073 to shift focus 3.183-223 where the weekly bull

channel top is noted. The 55-DMA is key support this week with bears needing a

close below to add weight to the case for a move back to 2.717-748 where the

100-DMA (2.742) is situated.

     JGB TECHS: (M18) Bulls Now Need Close Above 150.95

*RES 4: 151.15 - 2018 High Mar 2

*RES 3: 151.06 - High Mar 12

*RES 2: 151.03 - High Apr 12

*RES 1: 150.95 - Low Apr 12 now resistance

*PRICE: 150.88 @ 2130GMT

*SUP 1: 150.77 - Low May 2 

*SUP 2: 150.70 - Alternating daily support/resistance 

*SUP 3: 150.68 - 200-DMA 

*SUP 4: 150.52 - Alternating daily support/resistance

*COMMENTARY: Bulls take comfort in the closes above the 55-DMA (150.85) with

bulls continuing to look for a close above 150.95 to confirm initial focus on

151.03-06 where monthly highs are located. Bulls also gain confidence in support

emerging on dips. Bears now look for a close below 150.70 to shift focus back to

150.36-52 where recent lows are noted.

--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com

[TOPICS: MTABLE]