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AUSSIE 10-YEAR TECHS: (M4) Recent Gains Appear To Be A Correction

AUSSIE 10-YEAR TECHS
  • RES 3: 96.207 - 61.8% of the Mar 14 - Nov 1 ‘23 bear leg  
  • RES 2: 96.110 - High Dec 28 and the bull trigger 
  • RES 1: 95.832 - High Jun 13 
  • PRICE: 95.801 @ 16:28 BST Jun 13
  • SUP 1: 95.235 - 76.4% retracement of the Nov - Dec ‘23 rally 
  • SUP 2: 94.965 - Low Oct 31 ‘23 
  • SUP 3: 94.866 - 2.618 proj of the Dec 28 - Jan 19 - Feb 2 price swing  

The bearish cycle in Aussie 10yr futures persists, despite the recent bounce - a correction. A resumption of weakness would signal scope for a move towards 95.235, a Fibonacci retracement point on the continuation chart. Key short-term resistance has been defined at 95.825, the May 16 high. A firm break would highlight a possible reversal and signal scope for a climb towards 96.110, the Dec 28 high.

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  • RES 3: 96.207 - 61.8% of the Mar 14 - Nov 1 ‘23 bear leg  
  • RES 2: 96.110 - High Dec 28 and the bull trigger 
  • RES 1: 95.832 - High Jun 13 
  • PRICE: 95.801 @ 16:28 BST Jun 13
  • SUP 1: 95.235 - 76.4% retracement of the Nov - Dec ‘23 rally 
  • SUP 2: 94.965 - Low Oct 31 ‘23 
  • SUP 3: 94.866 - 2.618 proj of the Dec 28 - Jan 19 - Feb 2 price swing  

The bearish cycle in Aussie 10yr futures persists, despite the recent bounce - a correction. A resumption of weakness would signal scope for a move towards 95.235, a Fibonacci retracement point on the continuation chart. Key short-term resistance has been defined at 95.825, the May 16 high. A firm break would highlight a possible reversal and signal scope for a climb towards 96.110, the Dec 28 high.