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(H1) Bears in Control

AUSSIE 3-YEAR TECHS
  • RES 3: 100.00 - Psychological round number
  • RES 2: 99.860 - All time High Nov 3 and the bull trigger
  • RES 1: 99.840 - Nov 23/24 high
  • PRICE: 99.755 @ 15:32 GMT Feb 19
  • SUP 1: 99.740 - Low Feb 19
  • SUP 2: 99.736 - 61.8% Sep - Nov Rally
  • SUP 3: 99.705 - Low Sep 18, 21 and 22

Weakness in the front-end of the Aussie bond curve extended Friday, with prices hitting new cycle lows down at 99.740. This weakens the technical outlook, raising the risk of a more protracted downturn toward 99.736 Fib support and the late September lows of 99.705. To the upside, a break of 99.835, Dec 23 high would trigger gains and set the scene for a climb towards 99.840, Nov 23/24 high ahead of the major resistance at 99.860, the all time high from Nov 3.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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