September 26, 2022 23:11 GMT
3-Year ACGB yields have topped their previous cycle peak in early Sydney dealing, printing at 3.767%, which equates to the highest level observed since 2012.
- In technical terms YM bears now target the June low at 95.960 (continuation chart).
- 10-Year ACGB yields haven’t managed a challenge of their cycle high (4.255%), printing at ~4.08% at typing.
- With XM through overnight lows, bears now look to the mid-June base at 95.670 (continuation chart) as the next technical target.