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CHINA PBOC INJECTS CNY500 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1097 MON VS 7.1074

MNI: Canada Apr-Nov Budget Deficit CAD19.1B Vs Prior CAD3.6B

Bond Supply Calendar: BoE Short APF Sales Due Monday

EZ/UK T-Bill Calendar: Germany and France to Issue on Friday

MNI: US DEC PERSONAL INCOME +0.3%; NOM PCE +0.7%

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

MNI BRIEF: Canada Needs CAD1 Trln To Fix Housing Squeeze- CMHC

MNI BRIEF: Canada Shows No Progress Closing Housing Shortfall

MNI Asian Morning FI Technical Analysis 

17 May 2018
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (M18) Bulls Need Close Above 97.770 
*RES 4: 97.831 - Daily Bear channel top 
*RES 3: 97.815 - 55-DMA 
*RES 2: 97.770 - Lows May 9 & 10 now resistance 
*RES 1: 97.750 - Lows May 3 & 4 now resistance
*PRICE: 97.735 @ 2130GMT
*SUP 1: 97.686 - Bollinger band base 
*SUP 2: 97.675 - 2018 Low Apr 24 
*SUP 3: 97.605 - 2015 Low Dec 15 2015 
*SUP 4: 97.510 - High Nov 25 2014 now support
*COMMENTARY: Hesitation ahead of the 55 & 100-DMAs has taken its toll with a
sell-off that sees immediate focus back on tests of 2018 lows. Daily studies are
well placed for a fresh leg lower. Bears now look for a close below 97.675 to
shift focus to 97.605 2015 lows. Bulls now need a close above 97.770 to ease
bearish pressure and shift initial focus to 97.815-865 where 55 & 100-DMAs are
noted.
     AUSSIE 10-YR TECHS: (M18) Pressuring LT Bull Channel Base 
*RES 4: 97.2423 - 55-DMA
*RES 3: 97.2223 - 100-DMA
*RES 2: 97.1800 - Low May 10 now resistance
*RES 1: 97.1500 - Alternating daily support/resistance
*PRICE: 97.0850 @ 2130GMT
*SUP 1: 97.0800 - Low Feb 21
*SUP 2: 97.0450 - 2018 Low Feb 6
*SUP 3: 96.9875 - 2017 Low Mar 10 2017
*SUP 4: 96.8850 - Low July 14 2015
*COMMENTARY: Having remained capped ahead of the 200-DMA during May so far has
taken its toll with a sharp sell-off that sees immediate focus back on 2018
lows. The LT weekly bull channel base is noted at 97.0873 with a close below
97.0450 needed to confirm a break and initially target 2017 lows. Bulls now look
for a close above 97.1800 to ease immediate bearish pressure and above the
200-WMA (97.3151) to target 97.4000-4400.
     US 10-YR FUTURE TECHS: (M18) Bears Focused On Weekly Bear Channel Base
*RES 4: 119-13+ 21-DMA
*RES 3: 119-07 High May 15
*RES 2: 118-31 Low Apr 25 now resistance
*RES 1: 118-25+ High May 16
*PRICE: 118-17+ @ 2130GMT
*SUP 1: 118-14 2018 Low May 16
*SUP 2: 117-29+ Monthly Low Apr 8 2011
*SUP 3: 117-22+ 2011 Low Feb 9
*SUP 4: 117-07+ Weekly Bear channel base
*COMMENTARY: Recent topside hesitation around the 21-DMA provided the impetus
for a fresh leg lower and 2018 & 7yr lows. Bears focus attention on the weekly
bear channel base coming in around 117-07+. Daily studies have room to move
before O/S is an issue. Layers of resistance are accumulating and weighing.
Bulls now need a close above 119-07+ to ease bearish pressure and above the
21-DMA to pressure 119-31/120-06+.
     US 10-YR YIELD TECHS: Bears Need Close Below 3.011
*RES 4: 3.249 - High May 12 2011 
*RES 3: 3.223 - Monthly High July 1 2011 
*RES 2: 3.184 - High July 8 2011 
*RES 1: 3.123 - Daily Bull channel top
*PRICE: 3.063 @ 0430GMT
*SUP 1: 3.058 - Low May 16 
*SUP 2: 3.011 - Hourly support May 15 
*SUP 3: 2.972 - 21-DMA 
*SUP 4: 2.937 - Low May 7
*COMMENTARY: Focus on 3.041-073 has taken its toll with fresh 2018 & 7yr highs
seeing bulls shift initial focus to layers of resistance 3.184-3.249 where
channel tops and July 2011 monthly high are situated. Daily studies have room to
move before O/B is an issue. The 3.011 support is now key. Bears now look for a
close below this level to ease bullish pressure. Overall below 2.876 is needed
to confirm a break of the 55-DMA (2.884) and shift focus lower.
     JGB TECHS: (M18) Bulls Need Close Above 55-DMA
*RES 4: 151.03 - High Apr 12
*RES 3: 150.95 - Low Apr 12 now resistance
*RES 2: 150.85 - 55-DMA
*RES 1: 150.76 - 21-DMA
*PRICE: 150.71 @ 2130GMT
*SUP 1: 150.62 - Low May 16 
*SUP 2: 150.53 - Bollinger band base 
*SUP 3: 150.52 - Alternating daily support/resistance 
*SUP 4: 150.39 - Monthly Low Apr 26
*COMMENTARY: Bears have so far failed to gain traction below the 200-DMA
(150.71) with downside follow through lacking Wednesday. Bulls continue to look
for a close above the 55-DMA to shift focus to layers of resistance
Y150.95-151.06. While the 55-DMA caps bears focus on 150.36-39 but now need a
close below 150.62 to add weight to their case. Daily studies are well placed
for a fresh leg lower.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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