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18 June 2018
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
AUSSIE 3-YR TECHS: (U18) Bulls Need Close Above 200-DMA
*RES 4: 97.935 - High May 15
*RES 3: 97.924 - 55-WMA
*RES 2: 97.910 - High Mar 29
*RES 1: 97.866 - 200-DMA
*PRICE: 97.845 @ 2130GMT
*SUP 1: 97.835 - High June 14 now support
*SUP 2: 97.795 - High June 13 now support
*SUP 3: 97.755 - Low June 11
*SUP 4: 97.720 - Low June 7
*COMMENTARY: Pressure has returned to the 200-DMA with bulls needing a close
above to shift focus to 97.910-955 where the 55-WMA is located. Daily studies
have room to move before O/B becomes an issue. Initial support is now noted at
97.835. Bears now need a close below this level to gain breathing room and below
97.795 to shift initial focus back to 97.755.
AUSSIE 10-YR TECHS: (U18) Bears Need Close Below 97.2550
*RES 4: 97.4100 - Monthly High May 30
*RES 3: 97.3977 - 100-WMA
*RES 2: 97.3693 - Bollinger band top
*RES 1: 97.3650 - High May 31
*PRICE: 97.2950 @ 2130GMT
*SUP 1: 97.2550 - Hourly support June 14
*SUP 2: 97.1725 - Low June 12
*SUP 3: 97.1450 - Low June 7
*SUP 4: 97.1231 - LT Weekly Bull channel base off 2008 Low
*COMMENTARY: The break of 97.1500 lacked follow through with the recovery
resulting in a close above the 97.2900 level and focus returning to 97.3650-4400
where the 100-WMA and monthly highs are situated. Daily studies are well placed
for gains before O/B is an issue. Bears continue to look for a close below
97.2550 to shift focus back to 97.1231-1725 where the long term bull channel
base is located.
US 10-YR FUTURE TECHS: (U18) 118-29/119-09 Support Remains Key
*RES 4: 120-24 Hourly resistance May 30a
*RES 3: 120-16 Hourly resistance May 30
*RES 2: 120-00+ High June 7
*RES 1: 119-27 High June 15
*PRICE: 119-19 @ 2130GMT
*SUP 1: 119-14+ Low June 15
*SUP 2: 119-09 Hourly resistance June 13 now support
*SUP 3: 118-29 Low June 13
*SUP 4: 118-19 High May 22 now support
*COMMENTARY: Bears failed to capitalise on the marginal break of the key 118-30
support with the contract lacking downside follow through. Bulls gain confidence
as the contract looks to gain traction above the 55-DMA (119-17+) with 120-00+
now key. Bulls need a close above 120-00+ to add support to the case for a move
back to 121-03/12+. Bears now need a close below 119-09 to gain breathing room
and below 118-29+ to shift initial focus back to 2018 lows.
US 10-YR YIELD TECHS: 2.884 Support Remains Key
*RES 4: 3.014 - High May 24
*RES 3: 2.985 - Hourly resistance June 13
*RES 2: 2.965 - Hourly support June 13 now resistance
*RES 1: 2.937 - High June 15
*PRICE: 2.922 @ 2130GMT
*SUP 1: 2.884 - Low June 7
*SUP 2: 2.860 - Low June 1
*SUP 3: 2.821 - Hourly support May 30
*SUP 4: 2.790 - Hourly support May 30a
*COMMENTARY: The 3.014 resistance reconfirmed significance with the yield capped
ahead of this level last week. The close below 2.944 confirmed an easing of
bullish pressure and returned focus to 2.884. Below this level confirms a break
of the 55-DMA (2.924) and sees bears targeting 2.717-759 where Mar & May lows
are noted. Bulls still need a close above 3.014 to confirm a break of the 21-DMA
(2.953) and target 2018 highs.
JGB TECHS: (U18) 150.71 Support Key Today
*RES 4: 151.02 - Hourly resistance May 30
*RES 3: 150.94 - Low May 31 now resistance
*RES 2: 150.88 - High June 8
*RES 1: 150.85 - 21-DMA
*PRICE: 150.77 @ 2130GMT
*SUP 1: 150.71 - Low June 15
*SUP 2: 150.60 - Low June 14
*SUP 3: 150.57 - Rising daily TL Off 2017 low
*SUP 4: 150.53 - Low Apr 27
*COMMENTARY: Bears have so far failed to capitalise on Wednesday's sell-off with
the recovery resulting in pops above 100 & 200-DMAs. The 150.88-94 resistance
region is key today. Bulls need a close above this region to return focus to the
151.02-19 resistance region. Daily studies remain well placed for gains. Bears
now need a close below 150.71 to gain breathing room.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: email@example.com
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