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(H3) Sell-Off Exposes Key Support

AUSSIE 10-YEAR TECHS
  • RES 3: 97.185 - High Apr 5
  • RES 2: 97.040 - High Aug 03
  • RES 1: 96.714 - High Dec 9
  • PRICE: 95.915 @ 19:07 GMT Dec 28
  • 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

The current 10yr futures bear leg remains in play and the continuation lower undermines the recent bullish theme and suggests scope for a continuation lower 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. On the upside, key resistance has been defined at 96.714, the Dec 9 high. Clearance of this level is required to reinstate a bull theme.

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