February 14, 2024 23:15 GMT
(H4) Price Falters
AUSSIE 10-YEAR TECHS
- RES 3: 96.207 - 61.8% of the Mar 14 - Nov 1 ‘23 bear leg
- RES 2: 96.160 - High Jul 20
- RES 1: 96.110 - High Dec 28 and the bull trigger
- PRICE: 95.760 @ 16:34 GMT Feb 14
- SUP 1: 95.650 - Low Jan 19
- SUP 2: 95.390/275 - Low Nov 27 / 14
- SUP 3: 94.965 - Low Oct 31
Aussie 10yr futures underwent a shallow bounce Wednesday, with stronger-than-expected US CPI data weighing on global bond prices. The price action works against the bullish condition evident in the late ‘23 and early ‘24 rally - and tilts the outlook more consolidative for now. 96.110, the Dec 28 high, remains the bull trigger. Key support lies below at 95.390 as well as 95.275. Weakness through here would be a bearish development. For now, a pullback is considered corrective.
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