MNI Asian Morning FI Technical Analysis

11 May 2018

By Kyle Shortland

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

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (M18) Capped Ahead Of Key DMAs 

*RES 4: 97.897 - 200-DMA 

*RES 3: 97.865 - High Apr 10 

*RES 2: 97.826 - 55-DMA 

*RES 1: 97.820 - High May 4

*PRICE: 97.775 @ 2130GMT

*SUP 1: 97.770 - Lows May 9 & 10 

*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 continues to hesitate ahead of the 55 &

100-DMAs. Bulls still need a close above 97.865 to shift focus to 97.897-955

where the 200-DMA is found. Layers of support 97.730-770 are now seen as key.

Bears now need a close below 97.730 to confirm traction below the 21-DMA

(97.757) and reconfirm focus on 2018 lows.

     AUSSIE 10-YR TECHS: (M18) Bears Need Close Below 97.1500 

*RES 4: 97.3600 - High Apr 9

*RES 3: 97.3128 - 200-WMA

*RES 2: 97.2763 - 200-DMA

*RES 1: 97.2600 - High Apr 18

*PRICE: 97.2250 @ 2130GMT

*SUP 1: 97.1800 - Low May 10

*SUP 2: 97.1500 - High Apr 24 now support

*SUP 3: 97.0851 - Weekly Bull channel base off 2008 Low

*SUP 4: 97.0800 - Low Feb 21

*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.

Although the contract is capped ahead of the 200-DMA bears now need a close

below 97.1500 to reconfirm initial focus on 2018 lows.

     US 10-YR FUTURE TECHS: (M18) Bulls Need Close Above 120-06+

*RES 4: 120-06+ High Apr 19

*RES 3: 120-05+ 55-DMA

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

*RES 1: 119-22+ 21-DMA

*PRICE: 119-14 @ 2130GMT

*SUP 1: 119-06  Low May 9

*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: Follow through below 119-08 has been lacking but bears take comfort

in the bounce remaining capped ahead of the 21-DMA. Bulls continue to look for a

close above 120-06+ to confirm breaks of 21 & 55-DMAs and to shift initial focus

back to 120-20+/24. Bears now look for a close below 118-31 to add weight to the

case for a test of the weekly bear channel base coming in around 117-11+ today.

Daily studies are well placed for a fresh leg lower.

     US 10-YR YIELD TECHS: Bears Need Close Below 21-DMA

*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: 2.964 @ 2130GMT

*SUP 1: 2.937 - Low May 7 

*SUP 2: 2.934 - 21-DMA 

*SUP 3: 2.904 - Low Apr 20 

*SUP 4: 2.876 - High Apr 18 now support

*COMMENTARY: The recovery from the dip back towards the 21-DMA Friday resulted

in 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 the

21-DMA to ease bullish pressure.

     JGB TECHS: (M18) 200-DMA Support Key

*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: 150.84 @ 2130GMT

*SUP 1: 150.73 - 100-DMA 

*SUP 2: 150.70 - Alternating daily support resistance, 200-DMA 

*SUP 3: 150.52 - Alternating daily support/resistance 

*SUP 4: 150.39 - Monthly Low Apr 26

*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 continue to look for a close below the 200-DMA to end bullish

hopes and shift initial focus back to 150.52. Overall below 150.52 is needed to

see bears targeting.

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

[TOPICS: MTABLE]