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JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

AUSSIE 3-YEAR TECHS

(Z1) Off Recent Highs

US 10YR FUTURE TECHS

(Z1)‌‌ Support Appears Exposed

Developing Top?

AUSSIE TECHS
  • RES 4: 0.7356 High Dec 5, 2018
  • RES 3: 0.7295 High Jan 2019
  • RES 2: 0.7276/84 High Aug 19 / High Feb 2019
  • RES 1: 0.7216 High Aug 21
  • PRICE: 0.7164@ 06:07 BST Aug 24
  • SUP 1: 0.7136/09 Low Aug 20 / Low Aug 12 and the bear trigger
  • SUP 2: 0.7076 Low Aug 3 and a key support
  • SUP 3: 0.7064 Low Jul 24
  • SUP 4: 07041 50-dma

AUDUSD experienced selling pressure Wednesday and again Friday. The move lower on Aug 19 is a potentially important S/T bearish threat and signals the possible start of a correction. The daily pattern on this day is a bearish engulfing candle and is reinforced by a momentum set-up known as bearish divergence between price and momentum. Key resistance and the bull trigger is 0.7276. Watch support at 0.7109, Aug 12 low and bear trigger.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com