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(H1) Outlook Deteriorating Further

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: 98.505 @ 15:40 GMT Feb 19
  • SUP 1: 98.485 - Low Feb 19
  • SUP 2: 98.423 - 50% Mar - Apr Recovery
  • SUP 3: 98.413 - 3.0% Lower Bollinger Band

Prices declined further Friday, hitting new 2021 lows of 98.485. This adds further pressure to the already bearish outlook and opens a decline toward the 50% Fib for the March - April 2020 recovery at 98.423. 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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