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(H3) Edges Off February Lows

AUSSIE 10-YEAR TECHS
  • RES 3: 97.185 - High Apr 5
  • RES 2: 97.040 - High Aug 03
  • RES 1: 96.650 - High Jan 25
  • PRICE: 96.155 @ 15:41 GMT Mar 01
  • SUP 1: 95.675 - Low Oct 24
  • SUP 2: 95.670 - Low Jun 17 and a key support
  • SUP 3: 95.360 - 1.00 proj of the Aug - Oct - Dec price swing

Aussie 10y futures continue to trade in fragile fashion, following the shorter-end lower on recent RBA rate guidance. This keeps the bear leg in play despite this week’s modest bounce and the recent continuation lower suggests scope for further weakness. An extension would expose the key support at 95.675, the Oct 24 low and 95.670, the Jun 17 low, on the continuation chart.

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

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