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(H1) Tests Key Support

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: 98.870 @ 16:46 GMT Jan 7
  • SUP 1: 98.860 - Low Jan 7 and bear trigger
  • SUP 2: 98.845 - Low Jun 8 and key support
  • SUP 3: 98.570 - Low Mar 20

Aussie 10yr futures traded sharply lower Jan 6 reversing the recent recovery between Dec 7 - 23. Price has today tested key support at 98.875, Dec 7 low where a break would strengthen a bearish case and signal scope for a deeper pullback. This would open 98.845, the Jun 8 low and a key support. OIn 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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