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(H3) Corrective Pullback

AUSSIE 10-YEAR TECHS
  • RES 3: 97.185 - High Apr 5
  • RES 2: 97.040 - Aug 03
  • RES 1: 96.714 - High Dec 9
  • PRICE: 96.260 @ 15:26 GMT Dec 21
  • SUP 1: 96.200 - Low Dec 20
  • SUP 2: 95.930/675 - Low Nov 8 / Low Oct 21
  • SUP 3: 95.670 - Low Jun 17 and a key support

The current 10yr futures bear leg remains in play. This latest bear phase is likely a correction and the broader bull trend conditions remain intact. A reversal late October has resulted in a positive price sequence of higher highs and higher lows and note that moving average studies are in a bull mode position. 96.714 marks the first resistance, a break would open a leg to contract highs. Initial support lies at 95.930, the Nov 8 low.

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

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