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(M2) Bounces Off Cycle Lows

AUSSIE 10-YEAR TECHS
  • RES 3: 97.870 - High Mar 3
  • RES 2: 97.455 - High Mar 18
  • RES 1: 97.185 - High Apr 5
  • PRICE: 96.935 @ 16:23 BST Apr 25
  • SUP 1: 96.806 - 2.0% Lower Bollinger Band
  • SUP 2: 96.785 - Low Apr 22
  • SUP 3: 96.570 - 0.5% 10-dma envelope

Aussie 10y futures returned to cycle lows last week, retaining the sell-on-rallies theme, although prices have stabilised for now. The move lower exposes next support posted at the 2.0% Lower Bollinger Band at 96.821, ahead of a stronger area of support at the 0.5% 10-dma envelope - which crosses at 96.570 currently. Initial resistance is at a recent high of 97.185 on Apr 5.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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