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(H1) Outlook Deteriorating

AUSSIE 10-YEAR TECHS
  • RES 3: 99.165 - High Nov 20
  • RES 2: 99.035 - High Dec 23 and key resistance
  • RES 1: 99.002 - 50-DMA
  • PRICE: 98.595 @ 16:21 GMT Feb 18
  • SUP 1: 98.560 - Low Feb 17
  • SUP 2: 98.508 - 3.0% Lower Bollinger Band
  • SUP 3: 98.423 - 50% Mar - Apr Recovery

The outlook deteriorated further Wednesday, with prices hitting new cycle lows of 98.560 as global bonds remain weak. This adds further pressure to the already bearish outlook. 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.

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

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