MNI Asian Morning FI Technical Analysis

26 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 Need Close Below 97.820 

*RES 4: 97.950 - High July 4 

*RES 3: 97.907 - 21-DMA 

*RES 2: 97.895 - High July 20 

*RES 1: 97.846 - 55-DMA

*PRICE: 97.835 @ 2130GMT

*SUP 1: 97.820 - Low July 24 

*SUP 2: 97.795 - High June 13 now support 

*SUP 3: 97.755 - Low June 13 

*SUP 4: 97.720 - Monthly Low June 7

*COMMENTARY: Pressure returning to the 100-DMA to start the new week has so far

failed to result in a close below. Bears now look for a close below 97.820 to

add weight to the case for a move back to 97.675 lows with below 99.795 needed

to confirm the shift in focus. Wednesday's rally lacked follow through with

bulls now needing a close above the 21-DMA to return focus to 97.950-965 where

2018 highs are situated.

     AUSSIE 10-YR TECHS: (U18) Below 97.2350 To Pressure LT Bull Channel Base 

*RES 4: 97.4200 - High July 2

*RES 3: 97.4000 - High July 9

*RES 2: 97.3850 - Repeated daily highs July

*RES 1: 97.3300 - High July 25

*PRICE: 97.2750 @ 2130GMT

*SUP 1: 97.2600 - Low July 24

*SUP 2: 97.2350 - High June 11 now support

*SUP 3: 97.1725 - Low June 12

*SUP 4: 97.1687 - LT Weekly bull channel base off 2008 Low

*COMMENTARY: Losses to start the new week resulted in closes below the bull

channel base off May lows and pressure on key DMAs. Bears now look for a close

below 97.2600 to hint at a move back to 97.0450-1687 where the LT bull channel

base is noted, with below 97.2350 to add weight to the case. Bulls now need a

close above 97.3300 to gain breathing room and above 97.3850 to return focus to

97.4000-4400.

     US 10-YR FUTURE TECHS: (U18) Bears Now Need Close Below 118-29+

*RES 4: 120-06+ Hourly support July 20 now resistance

*RES 3: 119-30  Hourly support July 23 now resistance

*RES 2: 119-26+ Alternating Daily support/resistance

*RES 1: 119-22  High July 25

*PRICE: 119-11 @ 2130GMT

*SUP 1: 119-06  Low June 14

*SUP 2: 118-29+ Monthly Low June 13

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

*SUP 4: 118-09  Low May 21

*COMMENTARY: The marginal pop above the 55-DMA (120-20+) was rejected ahead of

the 119-26+/30 region and remains offered with immediate focus now on

118-29+/119-06. Bears look for a close below 118-29+ to add weight to the case

for a test of May lows (117-30). Bulls now need a close above 119-30 to shift

focus back to the key 120-13+/20 resistance region.

     US 10-YR YIELD TECHS: 55-DMA Confirms Significance

*RES 4: 3.084 - High May 21 

*RES 3: 3.050 - Low May 22 

*RES 2: 3.014 - High May 24 

*RES 1: 2.985 - Hourly resistance June 13

*PRICE: 2.973 @ 2130GMT

*SUP 1: 2.949 - Hourly resistance July 25 now support 

*SUP 2: 2.923 - 55-DMA 

*SUP 3: 2.902 - Hourly resistance July 23 now support 

*SUP 4: 2.880 - Hourly support July 20

*COMMENTARY: The 55-DMA confirmed significance with an aggressive bounce from

ahead of this level Wednesday reconfirming bullish focus on 3.014-084. Bulls

need a close above 3.084 to confirm initial focus on 3.128-223 where 2018 highs

are noted. Bears still need a close below the 55-DMA to gain breathing room and

below 2.880 to shift initial focus back to 2.807.

     JGB TECHS: (U18) Flirting With 200-DMA

*RES 4: 151.00 - High July 20

*RES 3: 150.92 - Low July 20 now resistance

*RES 2: 150.84 - 55-DMA

*RES 1: 150.79 - High July 25

*PRICE: 150.70 @ 2130GMT

*SUP 1: 150.68 - High July 24 now support 

*SUP 2: 150.57 - Low July 25 

*SUP 3: 150.45 - Hourly support July 24 

*SUP 4: 150.36 - High Feb 1 now support

*COMMENTARY: Bears have failed to capitalise on the sell-off back to 150.36 with

downside follow through lacking and the contract recovering to flirt with the

200-DMA (150.75) Wednesday. Bulls now need a close above 150.92 to confirm

breaks of key DMAs and return initial focus to 151.00-02. Bears now need a close

below 150.68 to gain breathing room and reconfirm initial focus on 150.36.

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

[TOPICS: MTABLE]