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AUSSIE 10-YEAR TECHS: (U4) Bullish Trend Structure

AUSSIE 10-YEAR TECHS
  • RES 3: 96.975 - High Mar 14 
  • RES 2: 96.501 - 76.4% of the Mar 14 - Nov 1 ‘23 bear leg
  • RES 1: 96.207 - 61.8% of the Mar 14 - Nov 1 ‘23 bear leg
  • PRICE: 96.117 @ 16:21 BST Sep 12
  • SUP 1: 95.850 - Low Aug 8  
  • SUP 2: 95.525 - Low Jul 2
  • SUP 3: 95.430 - Low Apr 26 (cont)

Aussie 10yr futures are holding the bulk of their recent gains. The push higher reinforces bullish conditions and attention is on the first resistance at 96.180, the Aug 6 high. A break of this level would confirm a resumption of the uptrend and pave the way for an extension towards 96.207, a Fibonacci projection. The bear trigger has been defined at 95.525, the Jul 2 low. Initial firm support lies at 95.850, the Aug 8 low.

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