(H0) Seen Pressuring Support...>

AUSSIE 10-YEAR TECHS: (H0) Seen Pressuring Support Near-Term

*RES 3: 98.9500 - High Dec 5

*RES 2: 98.8950 - High Dec 10 and 11

*RES 1: 98.8850 - High Dec 5

*PRICE: 98.7500 @ 16:20 GMT, Dec 18

*SUP 1: 98.7125 - Low Dec 16

*SUP 2: 98.6950 - Low Dec 13

*SUP 3: 98.6667 - 1.382 projection of Nov 28 - Dec 3 low from Dec 5 high

The mini-recovery at the beginning of the week faded well Wednesday, keeping

support in Aussie 10-yr futures under pressure. Recent gains were viewed as a

correction following the sharp sell-off on Dec 13. This move lower resulted in a

break of 98.8100, Dec 3 low and reinforced the near-term bearish risk. The

trigger for a fresh round of weakness is at 98.6950 where a breach would open

98.6667 and 98.6452, both Fibonacci projection levels. On the upside, resistance

is at 98.8850, Dec 13 high.