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23 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: 97.865 - High Apr 10 
*RES 3: 97.821 - Daily Bear channel top 
*RES 2: 97.803 - 55-DMA 
*RES 1: 97.770 - Lows May 9 & 10 now resistance
*PRICE: 97.765 @ 2130GMT
*SUP 1: 97.735 - Hourly support May 21 
*SUP 2: 97.700 - Low May 17, Bollinger band base 
*SUP 3: 97.675 - 2018 Low Apr 24 
*SUP 4: 97.605 - 2015 Low Dec 15 2015
*COMMENTARY: Bulls take comfort in support emerging ahead of 2018 lows last week
and pressure returning to the 21-DMA. Bulls continue to look for a close above
97.770 to ease bearish pressure, confirm a break of the 21-DMA and shift initial
focus to 97.803-865 where 55 & 100-DMAs are noted. While 97.770 caps bears
retain the advantage with immediate focus on 2018 lows. Below 97.675 shifts
focus to 97.605 2015 lows.
     AUSSIE 10-YR TECHS: (M18) Flirting With LT Bull Channel Base 
*RES 4: 97.2687 - 200-DMA
*RES 3: 97.2147 - 100-DMA
*RES 2: 97.1800 - Low May 10 now resistance
*RES 1: 97.1500 - Alternating daily support/resistance
*PRICE: 97.1400 @ 2130GMT
*SUP 1: 97.1000 - Hourly resistance May 17 now support
*SUP 2: 97.0616 - Bollinger band base
*SUP 3: 97.0450 - 2018 Low Feb 6
*SUP 4: 96.9875 - 2017 Low Mar 10 2017
*COMMENTARY: Bulls take comfort in the gains Friday ensuring the contract didn't
close the week below the LT weekly bull channel base (97.1024). Bears now look
for a close below 2018 lows to confirm a break and below 96.9650 needed to
initially target 96.7950 2015 lows. Layers of resistance remain 97.1800-3150
where key DMAs and the 200-WMA are noted. Above this region initially targets
97.4000-4400.
     US 10-YR FUTURE TECHS: (M18) Bulls Need Close Above 21-DMA
*RES 4: 119-31+ High Apr 4, 55-DMA
*RES 3: 119-07+ 21-DMA
*RES 2: 119-07  High May 15
*RES 1: 118-31  Low Apr 25 now resistance
*PRICE: 118-28 @ 2130GMT
*SUP 1: 118-19+ High May17 now support
*SUP 2: 118-10+ 2018 Low May 17
*SUP 3: 117-29+ Monthly Low Apr 8 2011
*SUP 4: 117-22+ 2011 Low Feb 9
*COMMENTARY: The bounce to end the week was less than ideal for bulls given
daily studies looking to correct from O/S and increases the risk of a correction
that tests the 21-DMA. In saying that, bulls still need a close above the 21-DMA
to confirm an easing of bearish pressure and to shift initial focus to
119-31+/120-06+ where the 55-DMA is located. While the 21-DMA caps bears remain
focused on the weekly bear channel base around 117-00+.
     US 10-YR YIELD TECHS: 3.084 Resistance Remains Key
*RES 4: 3.184 - High July 8 2011 
*RES 3: 3.145 - Daily Bull channel top 
*RES 2: 3.128 - 2018 High May 18 
*RES 1: 3.084 - High May 21
*PRICE: 3.050 @ 2130GMT
*SUP 1: 3.035 - High Apr 25 now support 
*SUP 2: 3.011 - Hourly support May 15 
*SUP 3: 3.003 - 21-DMA 
*SUP 4: 2.937 - Low May 7
*COMMENTARY: The yield remains offered having sold-off Friday from around the
daily bull channel top. Bears focus on the 21-DMA with a close below needed to
confirm a break of 3.011 and shift focus back to 2.876-937 where the 55-DMA
(2.900) is located. Bulls need a close above 3.084 to gain breathing room and
above 3.128 2018 highs to reconfirm the bullish bias and focus on 3.184-3.254
where channel tops and July 2011 monthly high are situated.
     JGB TECHS: (M18) Bulls Need Close Above 55-DMA
*RES 4: 151.06 - High Mar 12
*RES 3: 151.03 - High Apr 12
*RES 2: 150.95 - Low Apr 12 now resistance
*RES 1: 150.84 - 55-DMA
*PRICE: 150.77 @ 2130GMT
*SUP 1: 150.62 - Low May 16 
*SUP 2: 150.54 - 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
(150.72) with downside follow through lacking. 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.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]

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