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Free Access(H18) Potential For Move.......>
AUSSIE 10-YEAR TECHS: (H18) Potential For Move Targeting 97.0750-0900
*RES 4: 97.5118 - Bollinger band top
*RES 3: 97.5000 - Hourly resistance Dec 1, High Dec 8
*RES 2: 97.4400 - High Dec 18
*RES 1: 97.3650 - Low Dec 17 now resistance
*PRICE: 97.3100 @ 2030GMT
*SUP 1: 97.2600 - High Oct 30 now support
*SUP 2: 97.2200 - High Oct 25 now support
*SUP 3: 97.1450 - Low Oct 25
*SUP 4: 97.0900 - Monthly Low Oct 3
*COMMENTARY: Having looked heavy Tuesday bears have not been disappointed with
the contract remaining heavy. The close below the 100-DMA (97.3234) confirms
focus immediate on 97.2200-2600 and potentially targets a move back to
97.0750-0900. Resistance layers are building and weighing with bulls now needing
a close above 97.3650 to ease bearish pressure and above 97.4400 to shift focus
back to 97.5200.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.