MNI Asian Morning FI Technical Analysis

7 June 2018

By Kyle Shortland

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

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (M18) Focus Shifts To 97.675-700 

*RES 4: 97.910 - High Mar 29 

*RES 3: 97.873 - 200-DMA 

*RES 2: 97.830 - Lows May 30 & 31 now resistance 

*RES 1: 97.770 - Low May 24 now resistance

*PRICE: 97.755 @ 2130GMT

*SUP 1: 97.740 - Low May 22 

*SUP 2: 97.700 - Monthly Low May 17 

*SUP 3: 97.675 - 2018 Low Apr 24 

*SUP 4: 97.605 - 2015 Low Dec 15 2015

*COMMENTARY: Bears take comfort in the close below 97.770 that sees focus return

to 97.675-700 where 2018 lows and the Bollinger base are situated. Daily studies

are well placed for a fresh leg lower before O/S is an issue. Bulls now need a

close above 97.770 to gain breathing room. A close above 97.830 is then needed

to shift initial focus back to 97.873-910 where the 200-DMA is noted.

     AUSSIE 10-YR TECHS: (M18) Focus Back On 97.1500 

*RES 4: 97.4052 - 100-WMA

*RES 3: 97.3650 - High May 31

*RES 2: 97.2900 - Low June 1 now resistance

*RES 1: 97.2361 - 55-DMA

*PRICE: 97.1900 @ 2130GMT

*SUP 1: 97.1500 - Alternating daily support/resistance

*SUP 2: 97.1100 - LT Weekly Bull channel base off 2008 Low

*SUP 3: 97.1000 - Hourly resistance May 17 now support

*SUP 4: 97.0677 - Bollinger band base

*COMMENTARY: The rejection around the 100-WMA (97.4052) has now resulted in a

closes below key DMAs with immediate pressure on the 97.1500 support. Bears need

a close below 97.1500 to confirm traction below DMAs and to shift immediate

focus back to 97.0450-1100 where the weekly LT bull channel base and 2018 low

are noted. Bulls now need a close above 97.2900 to gain breathing room and

return focus to 97.3650-4400.

     US 10-YR FUTURE TECHS: (U18) Below 118-30 To Pressure 2018 Lows

*RES 4: 120-24  Hourly resistance May 30a

*RES 3: 120-16  Hourly resistance May 30

*RES 2: 119-30+ Hourly resistance June 1

*RES 1: 119-16  Hourly resistance June 6

*PRICE: 119-09 @ 2130GMT

*SUP 1: 119-05+ 21-DMA

*SUP 2: 118-30  Low May 24

*SUP 3: 118-19  High May 22 now support

*SUP 4: 118-09  Low May 21

*COMMENTARY: The lack of follow through on fresh 3mth highs was less than ideal

last week given O/B daily studies. Bears now look for a close below 118-30 to

confirm a break of the 21-DMA and shift initial focus back to 2018 lows.

Correcting O/B studies are adding weight to the bearish case. Bulls still need a

close above 119-30+ to gain breathing room and above 120-16 to shift immediate

focus to 121-03 highs from last week.

     US 10-YR YIELD TECHS: 3.014 Resistance Key Today

*RES 4: 3.128 - 2018 High May 18 

*RES 3: 3.084 - High May 21 

*RES 2: 3.050 - Low May 22 

*RES 1: 3.014 - High May 24

*PRICE: 2.974 @ 2130GMT

*SUP 1: 2.946 - High June 4 now support 

*SUP 2: 2.900 - Low June 5 

*SUP 3: 2.860 - Low June 1 

*SUP 4: 2.821 - Hourly support May 30

*COMMENTARY: Having found support around the 55-DMA (2.909) the yield is now

pressuring the 21-DMA (2.975). Above 3.014 is needed to confirm a break of the

21-DMA and add support to the initial case for a retest of 2018 highs.

Correcting O/S studies add support to the bullish case. Bears now need a close

below 2.900 to ease bullish pressure and below 2.860 to reconfirm focus on

2.717-759 where Mar & May lows are noted.

     JGB TECHS: (M18) 100-DMA Support Key

*RES 4: 151.15 - 2018 High Mar 2

*RES 3: 151.13 - Monthly High May 30

*RES 2: 151.02 - Hourly resistance May 30

*RES 1: 150.94 - Low May 31 now resistance

*PRICE: 150.76 @ 2130GMT

*SUP 1: 150.76 - 200-DMA 

*SUP 2: 150.74 - 100-DMA 

*SUP 3: 150.62 - Low May 16 

*SUP 4: 150.39 - Monthly Low Apr 26

*COMMENTARY: Pressure continues to return to 100 & 200-DMAs with bears taking

comfort in the contract remaining capped ahead of 150.94-151.02. Bulls need a

close above 151.02 to return initial focus to 151.13-19. Daily studies have

corrected back to more neutral levels. Bears continue to look for a close below

the 100-DMA to shift initial focus to 150.62 and overall focus to 150.39.

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

[TOPICS: MTABLE]