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MNI Asian Morning FI Technical Analysis
8 May 2018
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (M18) Below 97.780 To Gain Breathing Room
*RES 4: 97.900 - 200-DMA
*RES 3: 97.865 - High Apr 10
*RES 2: 97.828 - 55-DMA
*RES 1: 97.820 - High May 4
*PRICE: 97.805 @ 2130GMT
*SUP 1: 97.780 - Low May 7
*SUP 2: 97.750 - Lows May 3 & 4
*SUP 3: 97.730 - Repeated daily resistance now support
*SUP 4: 97.675 - 2018 Low Apr 24
*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 97.900-955 where the 200-DMA is found. Initial
support is now noted at 97.780 with bears now needing a close below to ease
pressure on resistance layers and below 97.730 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: 97.3129 - 200-WMA
*RES 2: 97.2775 - 200-DMA
*RES 1: 97.2600 - High Apr 18
*PRICE: 97.2400 @ 2130GMT
*SUP 1: 97.2100 - Low May 7
*SUP 2: 97.1500 - High Apr 24 now support
*SUP 3: 97.0800 - Low Feb 21
*SUP 4: 97.0688 - Weekly Bull channel base off 2008 Low
*COMMENTARY: Hesitation ahead of the 97.0450-0800 support region has resulted in
a correction that sees immediate focus on 97.2600-3129 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 97.2100 to gain breathing room and below 97.1500 to retain initial focus
on 2018 lows.
US 10-YR FUTURE TECHS: (M18) Bulls Now Need Close Above 120-06+
*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: 119-29+ 21-DMA
*PRICE: 119-21+ @ 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 121-03+/12 with the 100-DMA at 121-03+.
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: 2.952 @ 2130GMT
*SUP 1: 2.908 - 21-DMA
*SUP 2: 2.904 - Low Apr 20
*SUP 3: 2.876 - High Apr 18 now support
*SUP 4: 2.869 - 55-DMA
*COMMENTARY: Despite remaining heavy bulls took comfort in support emerging back
towards the 21-DMA Friday. The 55-DMA is seen as 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 (2.748) is situated. Bulls now look for a close
above 2.996 to gain breathing room and above 3.073 to shift focus 3.183-223
where the weekly bull channel top is noted.
JGB TECHS: (M18) Bears Need Close Below 150.77
*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: 150.86 @ 2130GMT
*SUP 1: 150.77 - Low May 2
*SUP 2: 150.70 - Alternating daily support/resistance
*SUP 3: 150.69 - 200-DMA
*SUP 4: 150.52 - Alternating daily support/resistance
*COMMENTARY: Hesitation ahead of the 150.95-151.06 resistance region is less
than ideal for bulls with a close above 151.06 needed to shift initial focus to
151.15-21. Bears now need a close below 150.77 to gain breathing room and below
the 200-DMA to end bullish hopes and shift initial focus back to 150.52. Daily
studies are largely neutral and providing few clues.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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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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