(H0) Recovers into the Close...>

AUSSIE 10-YEAR TECHS: (H0) Recovers into the Close

*RES 3: 99.0150 - High Nov29

*RES 2: 98.9500 - High Dec 5

*RES 1: 98.9408 - 61.8% August - January Decline

*PRICE: 98.8950 @ 16:13 GMT, Jan 23

*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

Despite a mid-session hiccup, Aussie 10-year futures rallied into the close

after having topped key resistance at 98.8600. Bulls are gaining some firmer

footing and this looks to continue up to the Dec 5 high at 98.9500. This should

concern bears targeting the 98.5700 YTD low over the medium term and a close

above the 100-dma will spell more trouble. To the downside, the initial focus

though is on 98.715, Jan 14 low where a break is required to signal a fresh

round of stronger bearish pressure. For bears, 98.8600 is a key risk parameter.