(H0) Momentum Pointed Higher...>

AUSSIE 10-YEAR TECHS: (H0) Momentum Pointed Higher

*RES 3: 99.1700 - High Aug 16

*RES 2: 99.1550 - High Oct 9

*RES 1: 99.1200 - High Feb 4

*PRICE: 99.0650 @ 16:32 GMT, Feb 21

*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.