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Market News Topics
May 09, 2018 22:36 GMT
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]
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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