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Free AccessMNI Asian Morning FI Technical Analysis
6 July 2018
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (U18) Bears Still Need Close Below 97.900
*RES 4: 98.015 - Alternating daily support/resistance
*RES 3: 97.986 - Bollinger band top
*RES 2: 97.965 - 2018 High July 2
*RES 1: 97.950 - High July 4
*PRICE: 97.935 @ 2130GMT
*SUP 1: 97.900 - Low June 29
*SUP 2: 97.865 - 200-DMA
*SUP 3: 97.835 - High June 14 now support
*SUP 4: 97.813 - 55-DMA
*COMMENTARY: The lack of topside follow through on fresh 2018 & 8mth highs is a
concern for bulls with daily momentum divergence noted, O/B studies in general
and the Bollinger top lurking just above. Bears look for a close below 97.900 to
ease bullish pressure and shift focus back to 97.795-873 where key DMAs are
clustered. Bulls need a close above 97.965 to reconfirm focus on 98.015-031
where 100 & 200-WMAs are noted.
AUSSIE 10-YR TECHS: Above $0.7552 To Target 100 & 200-DMAs
*RES 4: $0.7481 - High June 15
*RES 3: $0.7443 - Highs June 25 & 26
*RES 2: $0.7430 - 21-DMA
*RES 1: $0.7397 - Hourly support July 4 now resistance
*PRICE: $0.7385 @ 2130GMT
*SUP 1: $0.7348 - Hourly resistance July 3 now support
*SUP 2: $0.7308 - 2018 Low July 2
*SUP 3: $0.7265 - Low Jan 5 2017
*SUP 4: $0.7263 - Bollinger band base
*COMMENTARY: Fresh 2018 & 18mth lows Monday added to bearish confidence with
bears targeting $0.7152 Dec 2016 monthly lows, although the weekly bear channel
base ($0.7216) may slow the move. In saying that, bulls need a close above
$0.7443 to gain breathing room and above $0.7552 to confirm a break of the
55-DMA ($0.7504) and shift focus to $0.7619-0.7735 where 100 & 200-DMAs are
situated.
US 10-YR FUTURE TECHS: (U18) 120-16 Resistance Remains Key
*RES 4: 121-03 High May 30
*RES 3: 120-24 Hourly resistance May 30a
*RES 2: 120-16 Hourly resistance May 30
*RES 1: 120-11+ Falling Tl Off May high
*PRICE: 120-11 @ 2130GMT
*SUP 1: 120-07 Hourly support July 5
*SUP 2: 120-03 Low July 5
*SUP 3: 119-30 Low July 3
*SUP 4: 119-26+ Low June 26
*COMMENTARY: The 120-16 resistance remains key this week with bulls needing a
close above to confirm focus on 121-03/12. The Bollinger top (120-15+) and
modestly O/B studies remain key concerns for bulls and limit follow through.
Bears now look for a close below 120-03 now to ease bullish pressure and below
119-26+ to shift initial focus back to 119-13+ where the 55-DMA is located.
US 10-YR YIELD TECHS: 2.884-2.950 Resistance Region Now Key
*RES 4: 2.900 - High June 26
*RES 3: 2.884 - High July 3
*RES 2: 2.866 - High July 5
*RES 1: 2.842 - Hourly support July 2 now resistance
*PRICE: 2.833 @ 2130GMT
*SUP 1: 2.820 - Low July 5
*SUP 2: 2.790 - Hourly support May 30a
*SUP 3: 2.759 - Low May 29
*SUP 4: 2.717 - Monthly Low Apr 2
*COMMENTARY: Overall bearish focus remains on 2.717-759 where Apr & May lows are
noted. The Bollinger base (2.810) and modestly O/S studies remain key concern
for bears and limit follow through. Bulls continue now look for a close above
2.884 to gain breathing room and above 2.950 to confirm breaks of 21, 55 &
100-DMAs and pressure the key 3.014-050 resistance region.
JGB TECHS: (U18) Bears Need Close Below 150.89
*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: 150.99 - High July 5
*PRICE: 150.96 @ 2130GMT
*SUP 1: 150.89 - High June 25 now support
*SUP 2: 150.80 - Low June 29
*SUP 3: 150.71 - Low June 15
*SUP 4: 150.60 - Low June 14
*COMMENTARY: Narrow sideways trading came to an end Monday with fresh 4 week
highs Thursday reinforcing focus on 151.02-19 where 2018 & monthly highs are
situated. Daily studies looking to correct from modestly O/B and the lack of
topside follow through remain concerns for bulls. In saying that, bears still
need a close below 150.89 to signal a false break higher and return initial
focus to 150.71-80.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.