(H1) New Multi-Month Lows

• RES 3: 99.165 - High Nov 20
• RES 2: 99.035 - High Dec 23 and key resistance
• RES 1: 99.002 - 50-DMA
• PRICE: 98.890 @ 16:02 GMT Jan 21
• SUP 1: 98.790 - Low Jan 12
• SUP 2: 98.721 - 61.8% March 2020 Sell-off
• SUP 3: 98.570 - Low Mar 20

Weakness in Aussie 10yr futures extended through key support at the June 2020 lows of 98.810 over the past few weeks, highlighting the bearish threat. This signals scope for a deeper pullback, opening 98.721 and below. 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.