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Bear Flattening Consolidated


Recap: TYX2 110.00/114.00 Strangle Blocked

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  • RES 3: 98.350 - High Mar 3
  • RES 2: 97.975 - High Mar 16
  • RES 1: 97.530 - High Mar 31
  • PRICE: 96.168 @ 15:31 BST Jun 14
  • SUP 1: 96.134 - Low Jun 14
  • SUP 2: 96.028 - 3.0% Lower Bollinger Band
  • SUP 3: 95.564- 1.0% 10-dma envelope

Aussie bond futures extended the recent downtrend, taking out the near-term bear trigger at the YTD lows printed in May at 96.675 on the continuation contract. This keeps the primary trend direction pointed lower, with moving average studies adding to the pressure. Further weakness opens 96.028 - the 3.0% lower Bollinger Band as well as 95.564, the lower band of a moving average envelope. Key short-term resistance remains 97.530, the Mar 31 high.

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