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Free AccessMNI Asian Morning FI Technical Analysis
27 July 2018
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (U18) Stalling Ahead OF 21-DMA
*RES 4: 97.965 - 2018 High July 2
*RES 3: 97.950 - High July 4
*RES 2: 97.906 - 21-DMA
*RES 1: 97.900 - High July 26
*PRICE: 97.885 @ 2130GMT
*SUP 1: 97.850 - 55-DMA
*SUP 2: 97.820 - Low July 24
*SUP 3: 97.795 - High June 13 now support
*SUP 4: 97.755 - Low June 11
*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: 97.3450 - High July 26
*PRICE: 97.3150 @ 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 97.3450 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: 119-30 Hourly support July 23 now resistance
*RES 3: 119-26+ Alternating Daily support/resistance
*RES 2: 119-22+ High July 25
*RES 1: 119-18+ High July 26
*PRICE: 119-10 @ 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: Resistance layers building adds to bearish confidence as does
topside hesitation around the 55 (119-20+) & 100 (119-24+) DMAs. Bears currently
focus on 118-29+/119-06. Bears now 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: Initial Focus On 3.014-084
*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: 2.982 @ 2130GMT
*SUP 1: 2.971 - Hourly resistance July 26 now support
*SUP 2: 2.947 - Low July 26
*SUP 3: 2.923 - 55-DMA
*SUP 4: 2.902 - Hourly resistance July 23 now support
*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: 150.92 - Low July 20 now resistance
*RES 3: 150.85 - 21-DMA
*RES 2: 150.83 - 55-DMA
*RES 1: 150.79 - High July 25
*PRICE: 150.56 @ 2130GMT
*SUP 1: 150.51 - Low July 26
*SUP 2: 150.45 - Hourly support July 24
*SUP 3: 150.36 - High Feb 1 now support
*SUP 4: 150.09 - 2018 Low Feb 2
*COMMENTARY: Failure to gain traction above the 200-DMA (150.75) has left the
contract looking offered and immediate focus back on the 150.36-51 support
region. Bears continue to look for a close below 150.36 to confirm immediate
focus on tests of 2018 lows. Bulls now look for a close above the 21-DMA to
shift initial focus back to 150.92-151.02.
--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.