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Market News Topics
July 17, 2018 21:54 GMT
MNI Asian Morning FI Technical Analysis
18 July 2018
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (U18) 97.965 Resistance Remains Key
*RES 4: 98.015 - Alternating daily support/resistance
*RES 3: 97.965 - 2018 High July 2
*RES 2: 97.964 - Bollinger band top
*RES 1: 97.950 - High July 4
*PRICE: 97.905 @ 2130GMT
*SUP 1: 97.985 - Low July 17
*SUP 2: 97.869 - 200-DMA
*SUP 3: 97.860 - Bollinger band base
*SUP 4: 97.840 - 55-DMA
*COMMENTARY: The lack of topside follow through on recent 2018 & 8mth highs was
a concern for bulls with daily momentum divergence noted in past weeks, O/B
studies in general and the Bollinger top lurking just above. Bears now look for
a close below the 200-DMA to shift initial focus to 97.835-840 where 55 &
100-DMAs are located. Bulls still need a close above 97.965 to return focus to
98.017-038 where 100 & 200-WMAs are noted.
AUSSIE 10-YR TECHS: (U18) Below 100-DMA To Target LT Rising TL
*RES 4: 97.4400 - 2018 High Apr 3
*RES 3: 97.4269 - Weekly Bollinger band top
*RES 2: 97.4200 - High July 2
*RES 1: 97.4000 - High July 9
*PRICE: 97.3500 @ 2130GMT
*SUP 1: 97.3166 - Daily Bull channel base off May Low
*SUP 2: 97.2900 - Low June 18
*SUP 3: 97.2726 - 200-DMA
*SUP 4: 97.2658 - 100-DMA
*COMMENTARY: Hesitation ahead of 2018 highs is a concern for bulls given daily
studies correcting from O/B, daily momentum divergence and Bollinger tops
lingering above. Bulls need a close above 97.4400 to confirm a break of the
100-WMA (97.3606) and initially target 97.5000-5200. The 100-DMA is key support
this week. Bears need a close below the 100-DMA to shift focus back to
97.1480-1725 where the LT rising TL off 2008 lows is located.
US 10-YR FUTURE TECHS: (U18) 120-13/20 Resistance Region Key
*RES 4: 120-24 Hourly resistance May 30a
*RES 3: 120-20 High July 6
*RES 2: 120-16+ Bollinger band top
*RES 1: 120-13 Hourly resistance June 12
*PRICE: 120-04 @ 2130GMT
*SUP 1: 120-00 Lows July 10 & 16
*SUP 2: 119-30 Low July 3
*SUP 3: 119-26+ Low June 26
*SUP 4: 119-18+ 55-DMA
*COMMENTARY: Bulls take comfort in support emerging on dips below the 21-DMA
(120-02+). Bears need a close below 119-26+ to confirm traction below the 21-DMA
and pressure 119-13+/18+ where the 55-DMA is found. The 120-13/20 resistance
region remains key. Bulls continue to look for a close above 120-13 to gain
breathing room and above 120-20 to confirm focus on the key 121-03/12 region.
US 10-YR YIELD TECHS: 2.884-2.950 Resistance Region Key
*RES 4: 2.935 - Hourly resistance June 21
*RES 3: 2.900 - High June 26
*RES 2: 2.884 - High July 3
*RES 1: 2.877 - High July 16
*PRICE: 2.866 @ 2130GMT
*SUP 1: 2.847 - Low July 17
*SUP 2: 2.823 - Low July 16
*SUP 3: 2.807 - Low July 6
*SUP 4: 2.790 - Hourly support May 30a
*COMMENTARY: Overall bearish focus remains on 2.717-759 where Apr & May lows are
noted with a close below 2.807 to add weight to their case. The Bollinger base
(2.808) remains key concern for bears and limits follow through. Bulls continue
to 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) 100-DMA Now Supporting
*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: 150.96 - High July 13
*PRICE: 150.91 @ 2130GMT
*SUP 1: 150.86 - 100-DMA
*SUP 2: 150.80 - Low June 29
*SUP 3: 150.71 - Low June 15
*SUP 4: 150.60 - Low June 14
*COMMENTARY: Bulls have so far failed to take out the 151.02 resistance needed
to add support to the case for a test of the 151.13-19 resistance region. Daily
studies correcting from modestly O/B weighed in past weeks. Bears now need a
close below the 100-DMA to gain breathing room and below 150.80 to shift initial
focus to 150.71-74 where the 200-DMA is situated. Overall below 150.71 hints at
a move back to 150.39.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
To read the full story
Close
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.
Sign up now for free trial access to this content.
Please enter your details below.
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.
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