MNI Asian Morning FI Technical Analysis

10 May 2018

By Kyle Shortland

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

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (M18) 97.730 Support Now Key 

*RES 4: 97.898 - 200-DMA 

*RES 3: 97.865 - High Apr 10 

*RES 2: 97.827 - 55-DMA 

*RES 1: 97.820 - High May 4

*PRICE: 97.775 @ 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 97.898-955 where the 200-DMA is found. Bears take

comfort in the break of the 97.780 support but now need a close below 97.730 to

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

     AUSSIE 10-YR TECHS: (M18) 97.1500 Support Key Today 

*RES 4: 97.3600 - High Apr 9

*RES 3: 97.3129 - 200-WMA

*RES 2: 97.2773 - 200-DMA

*RES 1: 97.2600 - High Apr 18

*PRICE: 97.1850 @ 2130GMT

*SUP 1: 97.1500 - High Apr 24 now support

*SUP 2: 97.0851 - Weekly Bull channel base off 2008 Low

*SUP 3: 97.0800 - Low Feb 21

*SUP 4: 97.0450 - 2018 Low Feb 6

*COMMENTARY: The recovery from Apr lows has stalled ahead of the 200-DMA with

the 200-WMA lurking just above as daily studies head towards O/B levels. Bulls

now need a close above the 200-WMA to shift initial focus to 97.4000-4400. The

contract is looking a little heavy having now closed below 97.2000 with bears

now needing a close below 97.1500 to retain initial focus on 2018 lows.

     US 10-YR FUTURE TECHS: (M18) Immediate Focus Back on 2018 Low

*RES 4: 120-02+ Low Apr 18 now resistance

*RES 3: 119-24+ 21-DMA

*RES 2: 119-19  Hourly support May 8 now resistance

*RES 1: 119-12  Hourly resistance May 9

*PRICE: 119-07 @ 2130GMT

*SUP 1: 118-31  2018 Low Apr 25

*SUP 2: 118-24  Low Apr 13 2011

*SUP 3: 117-29+ Monthly Low Apr 8 2011

*SUP 4: 117-09+ Weekly Bear channel base

*COMMENTARY: M18 is looking offered with the break of 119-08 easing renewed

bullish pressure and returning initial focus to 2018 lows. Fresh lows are needed

to add weight to the case for a test of the weekly bear channel base. Bulls now

look for a close above Y119-19 to gain breathing room. Above Y120-06+ remains

needed to confirm a break of the 55-DMA (120-05+) and initially target a

correction back to 120-20+/24.

     US 10-YR YIELD TECHS: Focus Back On 3.041-073

*RES 4: 3.073 - Low July 6 2011 now resistance 

*RES 3: 3.041 - 2014 High Jan 2 

*RES 2: 3.035 - 2018 High Apr 25 

*RES 1: 3.018 - Hourly support Apr 26 now resistance

*PRICE: 3.006 @ 2130GMT

*SUP 1: 2.987 - High May 8 now support 

*SUP 2: 2.937 - Low May 7 

*SUP 3: 2.926 - 21-DMA 

*SUP 4: 2.904 - Low Apr 20

*COMMENTARY: The recovery from the dip back towards the 21-DMA Friday saw a pop

back above 2.996 and focus having returned to the 3.041-073 resistance region.

Daily studies are now well placed for a fresh leg higher. Bulls continue to look

for a close above 3.073 to confirm traction above 3.000 and the 2018 high and

target 3.219-223 where the weekly bull channel top is noted. Bears now need a

close below 2.937 to ease bullish pressure.

     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: 150.78 @ 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. Overall

below 150.52 is needed to see bear targeting 2018 lows.

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

[TOPICS: MTABLE]