August 20, 2024 22:15 GMT
AUSSIE 10-YEAR TECHS: (U4) Trend Needle Points North
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: 96.085 @ 16:18 BST Aug 20
- SUP 1: 95.525 - Low Jul 2
- SUP 2: 95.430 - Low Apr 26
- SUP 3: 95.275 - Low Nov 14
Aussie 10yr futures maintain a bullish short-term tone and the contract built on its latest gains earlier this month. The 96.000 handle has been cleared, the break above which is the first since early April on the continuation contract. Sights are on 96.207, a Fibonacci projection. The bear trigger has been defined at 95.525, the Jul 2 low. The latest pullback appears to have been a correction and this allowed an overbought condition to unwind.
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