February 05, 2023 23:15 GMT
(H3) Recouping Lost Ground
AUSSIE 10-YEAR TECHS
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- RES 3: 97.185 - High Apr 5
- RES 2: 97.040 - High Aug 03
- RES 1: 96.650 - High Jan 25
- PRICE: 96.500 @ 15:59 GMT Feb 3
- 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 traded lower into the Friday close, however the post-CPI bounce confirms the dip-buying bias. Prices remain well 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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