January 23, 2023 23:15 GMT
(H3) Extends Spell of Strength
AUSSIE 10-YEAR TECHS
Fixed Income Technical AnalysisHomepageBond Market Newsmarkets-real-timeBulletMarketsFixed Income News
- RES 3: 97.185 - High Apr 5
- RES 2: 97.040 - High Aug 03
- RES 1: 96.714 - High Dec 9
- PRICE: 96.515 @ 16:20 GMT Jan 23
- 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 extended their bounce off cycle lows with a solid bounce into the Thursday close last week. The rally puts prices over 40 ticks above the late December lows, but still short of the next material resistance at 96.714. For now, the bear leg remains in play and the recent continuation lower into end-2022 suggests scope for weakness near-term. 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.
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