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AUSSIE 10-YEAR TECHS: (M4) Trend Needle Continues To Point South

AUSSIE 10-YEAR TECHS
Fixed Income Technical AnalysisGlobalBulletAPACAustralia
  • 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: 95.825 - High May 16 
  • PRICE: 95.690 @ 16:28 BST May 17
  • 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 an extension of the corrective bounce on the US CPI release last week. The return lower today signals scope for a move towards 95.235, a Fibonacci retracement point on the continuation chart. Key short-term resistance has been pierced at 95.800, the Apr 19 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: 95.825 - High May 16 
  • PRICE: 95.690 @ 16:28 BST May 17
  • 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 an extension of the corrective bounce on the US CPI release last week. The return lower today signals scope for a move towards 95.235, a Fibonacci retracement point on the continuation chart. Key short-term resistance has been pierced at 95.800, the Apr 19 high. A firm break would highlight a possible reversal and signal scope for a climb towards 96.110, the Dec 28 high.