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JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

AUSSIE 3-YEAR TECHS

(Z1) Off Recent Highs

US 10YR FUTURE TECHS

(Z1)‌‌ Support Appears Exposed

24 April 2018
By Kyle Shortland
     
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/h8lzqnc
AUSSIE TECHS: Flirting With Weekly Bull Channel Base
*RES 4: $0.7763 - Hourly support Apr 19 now resistance
*RES 3: $0.7735 - Low Apr 12 now resistance
*RES 2: $0.7702 - Hourly resistance Apr 20
*RES 1: $0.7648 - Hourly resistance Apr 23
*PRICE: $0.7606 @ 2130GMT
*SUP 1: $0.7580 - High Dec 12 now support 
*SUP 2: $0.7498 - Monthly Low Dec 8 
*SUP 3: $0.7368 - Monthly Low June 1 
*SUP 4: $0.7326 - Monthly Low May 9
*COMMENTARY: The sell-off from 200-DMA ($0.7812) failures resulted in fresh 2018
& 4mth lows with the pair flirting with the LT bull channel base off 2016 lows
($0.7603). Bears look for a close below to gain traction and initially pressure
Dec lows. A close below Dec lows then targets $0.7326 May lows. Bulls  need a
close above $0.7640 to gain breathing room and above $0.7735 to shift focus back
to $0.7814-42 where the 200-DMA is noted.
     KIWI TECHS: Below $0.7130 To Target 2017 Low
*RES 4: $0.7302 - Low Apr 18 
*RES 3: $0.7259 - Low Apr 19 
*RES 2: $0.7198 - Low Apr 20 now resistance 
*RES 1: $0.7181 - 200-DMA
*PRICE: $0.7148 @ 2130GMT
*SUP 1: $0.7130 - High Jan 2 now support
*SUP 2: $0.7071 - Lows Jan 3 & 4
*SUP 3: $0.7042 - High Dec 26 now support
*SUP 4: $0.6952 - Low Dec 20
*COMMENTARY: Closes below the 200-DMA, 55 & 200-WMAs see the pair flirting with
the 100-WMA ($0.7145) & bears needing a close below $0.7130 to confirm traction
and initially target $0.7042-71. Below $0.7042 is needed to hint at a move back
to 2017 lows ($0.6779) with below $0.6952 to confirm. Bulls now look for a close
above $0.7198 to gain breathing room and initially target a correction back to
$0.7259-0.7302. The Bollinger base ($0.7141) is the key concern for bears.
     AUSSIE-KIWI TECHS: Bulls Still Need Close Above 55-DMA
*RES 4: NZ$1.0762 - High Mar 22
*RES 3: NZ$1.0690 - High Mar 23
*RES 2: NZ$1.0672 - High Apr 19, 55-DMA
*RES 1: NZ$1.0662 - Bollinger band top
*PRICE: NZ$1.0638 @ 2130GMT
*SUP 1: NZ$1.0601 - High Apr 17 now support
*SUP 2: NZ$1.0549 - Low Apr 16
*SUP 3: NZ$1.0486 - 2018 Low Apr 12
*SUP 4: NZ$1.0477 - LT rising daily TL off 2015 Low
*COMMENTARY: The bounce from recent 2018 & 9mth lows confirmed the significance
of the LT rising daily TL off 2015 lows with bulls still needing a close above
the 55-DMA to shift focus to NZ$1.0762-1.0894 where key DMAs, WMAs and the bear
channel top are situated. Bears continue to look for a close below NZ$1.0601 to
ease bullish pressure and below NZ$1.0549 to see the LT rising TL off 2015 lows
pressured once more.
     AUSSIE-YEN TECHS: Below Y81.87 To Target 2018 Low
*RES 4: Y83.94 - High Apr 19 
*RES 3: Y83.59 - Hourly support Apr 18 now resistance 
*RES 2: Y83.15 - High Apr 20 
*RES 1: Y82.82 - High Apr 23
*PRICE: Y82.68 @ 2130GMT
*SUP 1: Y82.46 - 21-DMA
*SUP 2: Y81.87 - Low Apr 6
*SUP 3: Y81.26 - Low Apr 4
*SUP 4: Y80.77 - Low Mar 28
*COMMENTARY: The Y84.06 resistance confirmed significance with an aggressive
rejection ahead of this level Thursday leaving the pair looking heavy and
initial focus back on the 21-DMA. Bears now need a close below 21-DMA to hint at
a move back to 2018 lows with below Y81.87 to confirm. Correcting O/B studies
are weighing with bulls now needing a close above Y83.15 to gain breathing room
and above Y84.06 to shift initial focus to Y84.89-85.59.
     EURO-AUSSIE TECHS: Bears Need Close Below A$1.5961
*RES 4: A$1.6191 - 2018 High Mar 28
*RES 3: A$1.6119 - Bollinger band top
*RES 2: A$1.6117 - High Mar 29
*RES 1: A$1.6084 - High Apr 2
*PRICE: A$1.6050 @ 2130GMT
*SUP 1: A$1.5961 - Low Apr 20 
*SUP 2: A$1.5929 - Hourly resistance Apr 19 now support 
*SUP 3: A$1.5857 - 55-DMA 
*SUP 4: A$1.5771 - Low Apr 13
*COMMENTARY: Bulls took comfort in support emerging on dips back to the 55-DMA
with bulls now focused on A$1.6084-1.6192 where 2018 highs and the Bollinger top
are located. Bears continue to look for a close below A$1.5961 to ease bullish
pressure and below the 55-DMA to hint at a move back to A$1.5598-1.5656 where
the 100-DMA (A$1.5656) is found. Daily studies are well placed for a fresh move
higher in line with the weekly trend.
     US DOLLAR-INDEX TECHS: Above 91.011 Targets Weekly Bear Channel Top
*RES 4: 92.067 - 200-DMA 
*RES 3: 92.033 - Weekly Bear channel top off 2017 high 
*RES 2: 91.751 - Low Jan 2 now resistance 
*RES 1: 91.011 - Low Sept 8 now resistance
*PRICE: 90.927 @ 2130GMT
*SUP 1: 90.618 - Hourly support Apr 23
*SUP 2: 90.483 - Hourly resistance Apr 23 now support
*SUP 3: 90.209 - Hourly support Apr 20
*SUP 4: 89.874 - 55-DMA
*COMMENTARY: Gains continued Monday for the index with immediate pressure on the
91.011 resistance. Bulls now look for a close above this level to shift focus to
91.751-92.067 where the 200-DMA and weekly bear channel top off 2017 highs is
noted. Daily studies are well placed for gains with the Bollinger top (90.731)
the key concern. Bears need a close below 90.483 to ease bullish pressure and
below the 55-DMA to shift focus back to 88.942-89.229.
     EURO-DOLLAR TECHS: Flirting With 21-WMA & 100-DMA
*RES 4: $1.2405 Daily Bear channel top off Feb high
*RES 3: $1.2359 Hourly resistance Apr 19
*RES 2: $1.2312 Hourly support Apr 20 now resistance
*RES 1: $1.2248 Low Apr 20 now resistance
*PRICE: $1.2208 @ 2100GMT
*SUP 1: $1.2196 Low Apr 23 
*SUP 2: $1.2153 Low Mar 1 
*SUP 3: $1.2092 High Jan 4 now support 
*SUP 4: $1.2037 Daily Bear channel base
*COMMENTARY: Losses continued to start the new week with the pair flirting with
the 21-WMA ($1.2205) & 100-DMA ($1.2207) as bears focus their immediate
attention on $1.2153. Bears need a close below this level to shift initial focus
to $1.2001-92 where the bear channel base ($1.2037) & 200-DMA are found. Bulls
need a close above $1.2248 to gain breathing room and above $1.2413 to shift
focus back to $1.2405-13.
     DOLLAR-YEN TECHS: Above Y110.47 To Target 2018 High
*RES 4: Y109.00 100-DMA 
*RES 3: Y108.94 21-WMA 
*RES 2: Y108.42 Low Feb 12 now resistance 
*RES 1: Y108.03 Low Feb 9 now resistance
*PRICE: y108.70 @ 2130GMT
*SUP 1: Y108.27 Hourly resistance Apr 23 now support 
*SUP 2: Y107.85 High Apr 20 now support 
*SUP 3: Y107.48 Hourly support Apr 20 
*SUP 4: Y107.02 21-DMA
*COMMENTARY: Bulls flexed their muscles Monday with a break of Y108.03-42
confirming immediate focus on key WMAs and DMAs noted Y109.00-110.47. A close
above Y110.47 is needed to confirm breaks and target 2018 highs. Initial support
is noted at Y108.27 but bears look for a close below Y107.85 to ease bullish
pressure and shift focus back to Y106.57-87 where the 21 & 55 (Y106.82) DMAs are
situated. The Bollinger top (Y108.54) is the key concern for bulls.
     EURO-YEN TECHS: 100-DMA Capping, Bears Need Close Below 55-DMA
*RES 4: Y134.79 High Feb 8
*RES 3: Y134.16 High Feb 9
*RES 2: Y133.20 Bollinger band top
*RES 1: Y133.03 100-DMA
*PRICE: Y132.68 @ 2130GMT
*SUP 1: Y132.02 Low Apr 20 
*SUP 2: Y131.78 Low Apr 12 
*SUP 3: y131.64 55-DMA 
*SUP 4: Y131.05 Low Apr 5
*COMMENTARY: Despite repeatedly pressuring the 100-DMA & 21-WMA (Y132.95) last
week bears failed to manage the close above needed to shift initial focus to
Y134.16 and overall focus to 2018 highs. Correcting O/B daily studies remain a
concern for bulls and add weight to the bearish case. Bears now look for a close
below the 55-DMA to hint at a move to Y128.94-130.13 where 2018 lows, 55
(Y130.13) & 200 (Y129.31) WMAs are noted with below Y131.05 to confirm.
     SPOT GOLD TECHS: 100-DMA Support Key This Week
*RES 4: $1356.8 - Bollinger band top 
*RES 3: $1355.7 - High Apr 18 
*RES 2: $1339.3 - Hourly resistance Apr 20 
*RES 1: $1331.2 - 55-DMA
*PRICE: $1324.0 @ 2130GMT
*SUP 1: $1321.2 - Low Apr 6 
*SUP 2: $1318.0 - Low Apr 10 
*SUP 3: $1306.9 - Daily Bull channel base off Dec low 
*SUP 4: $1302.5 - Monthly Low Mar 1
*COMMENTARY: Pressure has resulted in a break of the bull channel base off Dec
lows with immediate focus on the 100-DMA. Bears need a close below the 100-DMA
to shift initial focus back to $1291.2-1302.5 where the 55-WMA ($1291.2),
200-DMA ($1301.6) & March low ($1302.5) are located. Bulls now need a close
above the 55-DMA to gain breathing room and above $1339.3 to return focus to
$1355.7-1366.1 where 2018highs are located.
     NYMEX WTI TECHS: (M18) Support Emerging On Dips
*RES 4: $73.71 - Weekly Bull channel top 
*RES 3: $73.25 - Low Nov 11 2014 now resistance 
*RES 2: $72.41 - Daily Bull channel base 
*RES 1: $69.55 - 2018 High Apr 19
*PRICE: $68.92 @ 2130GMT
*SUP 1: $68.66 - High Apr 20 now support 
*SUP 2: $67.14 - Low Apr 23 
*SUP 3: $66.54 - Low Apr 18 
*SUP 4: $65.59 - Low Apr 17
*COMMENTARY: Support emerging on dips provides bulls confidence but a close
above $69.55 is needed to reconfirm focus on $72.41-73.71 following last week's
lack of topside follow through. O/B daily studies and momentum divergence are
seen as concerns for bulls. Bears now look for a close below $67.14 to gain
breathing room and hint at a correction back to $65.09-65.60 where the 21-DMA
($65.60) is found.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]