Free Trial

(H0) Near-term Top In? *RES....>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (H0) Near-term Top In?
*RES 3: 98.9041 - 100-DMA
*RES 2: 98.8950 - High Dec 10 and 11
*RES 1: 98.8600 - High Jan 8
*PRICE: 98.7650 @ 16:33 GMT, Jan 08
*SUP 1: 98.5700 - Low Jan 2
*SUP 2: 98.5348 - 1.236 projection of Dec 5 - Dec 13 decline from Dec 18 high
*SUP 3: 98.4976 - 1.382 projection of Dec 5 - Dec 13 decline from Dec 18 high
Markets saw a high print of 98.8600 overnight on the back of the Iranian missile
retaliation, but these gains were rapidly pared into the close as tensions
swiftly de-escalated. This suggests the Wednesday high could mark a near-term
top, prompting bears to re-target the 98.5700 YTD low in the medium term should
the 200-dma at 98.7093 give way. This bearish cycle has been in place since Nov
28. The focus is on a move towards 98.5348 and 98.4976 next, both Fibonacci
projection levels.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.