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MNI: PBOC Drains Net CNY364 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC INJECTS CNY83 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1006 FRI VS 7.1049

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

Bond Supply Calendar: EFSF Synd Upcoming; SK, EU-bond auct Mon

MNI: BLS: US PAYROLLS NET REVISIONS FOR DEC, NOV +126K

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

MNI BRIEF: Canada Needs CAD1 Trln To Fix Housing Squeeze- CMHC

MNI BRIEF: Canada Shows No Progress Closing Housing Shortfall

MNI European Morning FI Technical Analysis 

22 August 2017
By Kyle Shortland
Please click on this link to access MNI's daily European FI Technical Analysis
Pdf - http://tinyurl.com/nhjogts
BUND TECHS: (U17) Bulls Now Need Close Above Falling TL
*RES 4: 165.44 High June 26
*RES 3: 164.89 Falling daily TL
*RES 2: 164.79 Low June 21 now resistance
*RES 1: 164.64 High Aug 10
*PREVIOUS CLOSE: 164.52
*SUP 1: 164.32 Hourly support Aug 21
*SUP 2: 164.00 Hourly support Aug 18
*SUP 3: 163.97 Daily Bull channel base
*SUP 4: 163.69 Hourly support Aug 16
*COMMENTARY: The 164.00 support provided the base for Monday's rally with the
close above 164.21 seeing immediate focus back to 164.64-89 where the falling
daily TL is noted. Bull now look for a close above the falling daily TL to
confirm focus on tests of 165.44-55 where June highs are situated. Layers of
support remain with bears needing a close below 163.69 to ease immediate bullish
pressure and below the 55-DMA (163.17) to target 162.50-63.
BOBL TECHS: (U17) Key Resistance Capping
*RES 4: 133.01 Bollinger band top 
*RES 3: 132.95 High June 21 
*RES 2: 132.92 Falling daily TL 
*RES 1: 132.89 High Aug 21
*PREVIOUS CLOSE: 132.85
*SUP 1: 132.76 Hourly support Aug 21
*SUP 2: 132.65 Low Aug 18
*SUP 3: 132.58 Low Aug 17
*SUP 4: 132.48 100-DMA
*COMMENTARY: Pressure remains on layers of resistance 132.92-95 with bulls
needing a close above to confirm initial focus on 133.26 June highs. Daily
studies looking to correct from O/B and the Bollinger top are key concerns for
bulls. In saying that, higher daily highs and lows see support layers building
and bears needing a close below 132.76 to gain breathing room and hint at a
correction back to 132.17-48 where key DMAs are clustered.
SCHATZ TECHS: (U17) Above 112.190 Targets 112.230/280
*RES 4: 112.280 Daily Bull channel top 
*RES 3: 112.230 Monthly High June 12 
*RES 2: 112.222 Bollinger band top 
*RES 1: 112.200 High Aug 21
*PREVIOUS CLOSE: 112.200
*SUP 1: 112.180 Hourly support Aug 21 
*SUP 2: 112.140 21-WMA 
*SUP 3: 112.130 High Aug 1, Daily bull channel base 
*SUP 4: 112.110 21-DMA
*COMMENTARY: Sideways trading 112.130-190 appears to have ended with a bullish
close above 112.190 that now sees bulls focused on the 112.230-280 region where
June highs and the daily bull channel top are located. Studies lingering at O/B
levels and the Bollinger top are key concern for bulls. Bears now need a close
below 112.160 to return pressure to 112.110-140 where 21 & 100-DMAs and the
21-WMA are situated.
GILT TECHS: (U17) Bears Need Close Below 127.52
*RES 4: 129.01 High June 15 
*RES 3: 128.68 High June 21 
*RES 2: 128.24 High Aug 11 
*RES 1: 128.05 High Aug 21
*PREVIOUS CLOSE: 127.62
*SUP 1: 127.58 Daily Bull channel base 
*SUP 2: 127.52 Low Aug 18 
*SUP 3: 127.22 Low Aug 16 
*SUP 4: 127.06 Low Aug 9
*COMMENTARY: Support emerging ahead of the 126.54-127.22 has provided the
catalyst for pressure to remain on the 128.24 resistance. Bulls continue to look
for a close above 128.24 to reconfirm the bullish bias and initially target
128.68-129.19. O/B daily studies remain a concern for bulls. In saying that,
bears still need a close below 127.52 to ease pressure on 128.24 and see focus
return to layers of support 126.54-127.22.
SHORT-STERLING TECHS: (Z17) 99.620 & 99.650 Levels Remain Key
*RES 4: 99.690 2017 Highs June 12 & 13
*RES 3: 99.671 Bollinger band top
*RES 2: 99.662 Daily Bull channel top
*RES 1: 99.650 High June 21 & Aug Repeatedly
*PREVIOUS CLOSE: 99.650
*SUP 1: 99.630 Repeated Daily Lows Aug
*SUP 2: 99.620 Low Aug 8 & 9
*SUP 3: 99.615 21-DMA
*SUP 4: 99.600 Low Aug 4
*COMMENTARY: The 99.650 resistance continues to cap attempts to break for a
fresh leg higher targeting 99.690 2017 highs. Initial support is noted at 99.630
but bears now look for a close below the 21-DMA to shift focus to 55 & 100-DMAs
99.588-596. The Bollinger top (99.671) remains the key concern for bulls with
potential to limit follow through.
EURIBOR TECHS: (H18) Bears Need Close Below 21-DMA
*RES 4: 100.375 - High Oct 4 
*RES 3: 100.360 - High Oct 6 
*RES 2: 100.330 - High Oct 19 
*RES 1: 100.310 - 2017 High Aug 11 - 21
*PREVIOUS CLOSE: 100.310
*SUP 1: 100.300 - Low Aug 11 - 16
*SUP 2: 100.298 - 21-DMA
*SUP 3: 100.285 - 55-DMA
*SUP 4: 100.275 - Alternating daily support/resistance
*COMMENTARY: The support at 100.285 provided the base for a rally and fresh 2017
& 10mth highs with bullish focus currently on the 100.330-360 region last seen
in Oct 2016. Sideways trading defined last week. Layers of support remain with
bears needing a close below the 21-DMA to ease bullish pressure and below the
55-DMA to signal a correction that initially targets the 100-DMA (100.270). The
Bollinger top (100.314) remains the key concern for bulls.
US 10-YR FUTURE TECHS: (U17) Below 126-180 To Ease Bullish Pressure
*RES 4: 127-080 - Monthly High June 14 
*RES 3: 127-070 - 200-WMA 
*RES 2: 127-010 - High Aug 18 
*RES 1: 126-290 - High Aug 21
*PRICE: 126-240 @ 0430GMT
*SUP 1: 126-220 - Hourly support Aug 21
*SUP 2: 126-180 - Low Aug 18
*SUP 3: 126-110 - Low Aug 17
*SUP 4: 126-030 - Daily Bull channel base
*COMMENTARY: The 125-290/010 support region confirmed significance Wednesday
with the contact recovering from a close below 21 (126-090) & 55 (126-050) DMAs.
Friday's high lacked follow through but bulls reconfirmed dominance Monday with
focus on 127-010/090 where the 200-WMA is located. Bears now look for a close
below 126-180 to ease bullish pressure and shift focus back to layers of support
125-290/126-110.
US 10-YR YIELD TECHS: Focus On 2017 Low
*RES 4: 2.250 - Alternating hourly support/resistance 
*RES 3: 2.229 - Hourly resistance Aug 17 
*RES 2: 2.210 - High Aug 18 
*RES 1: 2.197 - Hourly resistance Aug 21
*PRICE: 2.192 @ 0430GMT
*SUP 1: 2.164 - Low Aug 18 
*SUP 2: 2.162 - Bollinger band base 
*SUP 3: 2.121 - Low June 26 
*SUP 4: 2.103 - 2017 Low June 14
*COMMENTARY: The 2.289 resistance confirmed significance with the yield rejected
ahead of this level and the sell-off resulting in bearish closes last week.
Initial focus has returned to 2.053-121 where 2017 lows and the 100-WMA are
situated. Layers of resistance are accumulating and weighing with bulls needing
a close above 2.229 to ease bearish pressure and above 2.264 to shift initial
focus back to 2.289.
EUROSTOXX50 TECHS: Bears Dominate While 3456.15 Caps 
*RES 4: 3497.29 High Aug 16 
*RES 3: 3484.66 High Aug 17 
*RES 2: 3456.15 Low Aug 17 now resistance 
*RES 1: 3448.39 High Aug 18
*PREVIOUS CLOSE: 3423.53
*SUP 1: 3412.65 Bollinger band base
*SUP 2: 3411.06 Low Aug 21 
*SUP 3: 3395.25 200-DMA 
*SUP 4: 3390.04 Low Mar 14
*COMMENTARY: Attempts to break higher last week were stifled by layers of
resistance 3497.29-3539.48 where key DMAs and the bear channel top are situated.
Layers of resistance are building and weighing with bulls needing a close above
3456.15 to return focus to key resistance layers. While 3456.15 caps bears focus
on the 3355.40-3395.25 support region where the 200-DMA is situated. The
Bollinger base remains the key concern for bears.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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