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(H1) Extending Weakness

AUSSIE 10-YEAR TECHS
  • RES 3: 99.165 - High Nov 20
  • RES 2: 99.100 - High Nov 20
  • RES 1: 99.035 - High Dec 23 and key resistance
  • PRICE: 98.855 @ 16:32 GMT Jan 8
  • SUP 1: 98.845 - Low Jun 8 / Jan 8 and key support
  • SUP 2: 98.721 - 61.8% March 2020 Sell-off
  • SUP 3: 98.570 - Low Mar 20

Weakness in Aussie 10yr futures extended into the Friday close, with prices touching (but not breaking) the key support at 98.845. A break would strengthen the bearish case and signal scope for a deeper pullback. On the upside, an initial key resistance has been defined at 99.035, Dec 23 high. A break is required to ease the bearish pressure.

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