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3-Year Futures Contract Back At Cycle Low

AUSSIE BONDS

3yr futures contract has traded back at the cycle low of 95.980 in the Sydney morning trade.

  • The contract recently cleared the February lows on the continuation contract, and attention is on key support at 95.960, June 17 2022 low (continuous).
  • According to MNI’s technicals team, clearance of this level would confirm a critical bearish medium-term development and signal scope for an extension towards 95.451, a Fibonacci projection.

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