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(H0) Momentum Injection *RES...>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (H0) Momentum Injection
*RES 3: 99.1700 - High Aug 16
*RES 2: 99.1550 - High Oct 9
*RES 1: 99.1200 - High Feb 4
*PRICE: 99.0400 @ 16:28 GMT, Feb 20
*SUP 1: 98.7150 - Low Jan 14 and key near-term support
*SUP 2: 98.5900 - Low Jan 3
*SUP 3: 98.5700 - Low Jan 2 and primary support
After flatlining for much of the week, Aussie bonds had a decent momentum
injection Thursday, which bid up prices to multi-week highs. This narrows the
gap with near-term resistance at 99.12 and counters the slightly negative
technical outlook, but only a recovery above the early February highs will
change this. To the downside, the initial focus is on 98.7150, Jan 14 low where
a break is required to signal a fresh round of stronger bearish pressure.
98.8600 is a key downside risk parameter.

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