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AUSSIE 10-YEAR TECHS: (U4) Fades Off Highs

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: 95.923 - High Jun 14 
  • PRICE: 95.695 @ 15:48 BST Jul 22
  • 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  

Aussie 10yr futures maintain a bullish short-term tone and the contract is holding on to a large part of its latest gains. The move higher last week signals scope for a climb towards 95.923, the next resistance on the continuation contract. On the downside, the bear trigger has been defined at 95.525, the Jul 2 low. Clearance of it would signal scope for a move towards 95.235, a Fibonacci retracement point.

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