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Market News Topics
July 19, 2018 22:18 GMT
MNI Asian Morning FI Technical Analysis
20 July 2018
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (U18) Aggressive Bounce From 55-DMA
*RES 4: 97.965 - 2018 High July 2
*RES 3: 97.959 - Bollinger band top
*RES 2: 97.950 - High July 4
*RES 1: 97.913 - 21-DMA
*PRICE: 97.890 @ 2130GMT
*SUP 1: 97.867 - Bollinger band base
*SUP 2: 97.844 - 55-DMA
*SUP 3: 97.833 - 100-DMA
*SUP 4: 97.795 - High June 13 now support
*COMMENTARY: The sell-off Thursday lacked follow through with an aggressive
bounce ahead of 55 & 100-DMAs. Bears now need a close below the 100-DMA to end
bullish hopes and below 97.795 to confirm focus on 97.675 2018 lows. Bulls
continue to look for a close above the 21-DMA to gain breathing room and above
97.965 to return focus to 98.016-038 where 100 & 200-WMAs are noted.
AUSSIE 10-YR TECHS: (U18) Bull Channel Base Supporting
*RES 4: 97.4400 - 2018 High Apr 3
*RES 3: 97.4316 - Weekly Bollinger band top
*RES 2: 97.4200 - High July 2
*RES 1: 97.4000 - High July 9
*PRICE: 97.3700 @ 2130GMT
*SUP 1: 97.3289 - Daily Bull channel base off May Low
*SUP 2: 97.2900 - Low June 18
*SUP 3: 97.2796 - 55-DMA
*SUP 4: 97.2684 - 100-DMA
*COMMENTARY: The daily bull channel base off May lows reconfirmed significance
Thursday with a bounce that maintains focus on 97.4000-4400 where 2018 highs and
the 100-WMA are noted. Bulls need a close above 97.4400 to confirm a break of
the 100-WMA (97.3605) 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) Focus Back On 120-20
*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+ High July 19
*PRICE: 120-10+ @ 2130GMT
*SUP 1: 120-07 Hourly resistance July 19 now support
*SUP 2: 120-04+ 21-DMA
*SUP 3: 119-26+ Low June 26
*SUP 4: 119-23+ Bollinger band base
*COMMENTARY: The 119-26+ support confirmed significance with an aggressive
bounce from just ahead of this level that sees focus return to the 120-20
resistance. Bulls continue to look for a close above 120-20 to confirm focus on
the key 121-03/12 region. Support layers building add to bullish confidence.
Bears now look for a close below the 21-DMA to ease bullish pressure and below
119-26+ to confirm traction below the 21-DMA and initially pressure 119-13+/19+
where the 55-DMA is found.
US 10-YR YIELD TECHS: 2.807 Support Key Today
*RES 4: 2.924 - 55-DMA
*RES 3: 2.894 - High July 19
*RES 2: 2.871 - Hourly support July 19 now resistance (A)
*RES 1: 2.855 - Hourly support July 19 now resistance
*PRICE: 2.838 @ 2130GMT
*SUP 1: 2.823 - Low July 16
*SUP 2: 2.807 - Low July 6
*SUP 3: 2.790 - Hourly support May 30a
*SUP 4: 2.759 - Low May 29
*COMMENTARY: Bullish pressure managed a pop above the 2.884 resistance and
100-DMA (2.894) before being aggressively rejected ahead of the 55-DMA. Bulls
continue to look for a close above 2.950 to confirm breaks of 55 & 100-DMAs and
pressure the key 3.014-050 resistance region. Bears continue to look for a close
below 2.807 to reconfirm focus on 2.717-759. Daily studies are well place for a
fresh leg lower with narrowing Bollinger bands suggesting a breakout.
JGB TECHS: (U18) Bulls Need Close Above 151.02
*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: 151.00 - Bollinger band top
*PRICE: 150.97 @ 2130GMT
*SUP 1: 150.92 - Hourly support July 19
*SUP 2: 150.85 - 55-DMA
*SUP 3: 150.80 - Low June 29
*SUP 4: 150.71 - Low June 15
*COMMENTARY: Pressure has returned to the 151.02 resistance following an
aggressive bounce from a dip below the 55-DMA. Bulls need a close above 151.02
to add support to the case for a test of the 151.13-19 resistance region.
Initial support is now noted at 150.92 with bears needing a close below to ease
pressure on 151.02 and sees focus back on the 150.80 support.
--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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