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(U2) Downtrend Accelerates

AUSSIE 10-YEAR TECHS
  • RES 3: 97.455 - High Mar 18
  • RES 2: 97.185 - High Apr 5
  • RES 1: 96.945 - High Apr 26 and key short-term resistance
  • PRICE: 95.910 @ 15:34 BST Jun 14
  • SUP 1: 95.903 - Low Jun 14
  • SUP 2: 95.746 - 3.0% Lower Bollinger Band
  • SUP 3: 95.778 - 0.5% 10-dma envelope

Aussie 10yr futures touched lower lows Tuesday, extending the downtick alongside the global wave of bond weakness. This shifts first support lower, with markets eyeing vol band support at both 95.746 and 95.778. Moving average studies continue to highlight a bearish backdrop and recent weakness has maintained a bearish price sequence of lower lows and lower highs - the definition of a downtrend. Key short-term resistance remains at 96.945, the Apr 26 high.

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