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(H2) Bouncing Ahead of Key Bear Trigger

  • RES 3: 98.880 - High Aug 31 2021
  • RES 2: 98.755 - High Sep 23
  • RES 1: 98.430/460 - High Dec 21 / 06
  • PRICE: 98.075 @ 16:03 GMT Jan 31
  • SUP 1: 97.855 - Low Oct 29 and the major support
  • SUP 2: 97.625 - 76.4% 2018-20 Range
  • SUP 3: 97.485 - Low Mar 19, 2020

Aussie 10y futures are on firmer footing. A bearish theme remains in place though following the pull back this month from recent highs, erasing strength that saw prices rise to challenge early December highs of 98.460. This remains the first key resistance area and a break through here would open potential for gains toward 98.755, the Sep 23 high. A resumption of weakness would refocus attention on the bear trigger at 97.855, Oct 29 low.

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