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(H4) Uptrend Pauses, But No Reversal Yet

AUSSIE 10-YEAR TECHS
  • RES 3: 96.160 - High Jul 20
  • RES 2: 96.126 - 2.0% Upper Bollinger Band
  • RES 1: 96.110 - High Dec 28
  • PRICE: 95.755 @ 16:07 GMT Jan 22
  • SUP 1: 95.390/275 - Low Nov 27 / 14
  • SUP 2: 94.966 - 1.0% 10-dma envelope
  • SUP 3: 94.965 - Low Oct 31

The uptrend across Aussie 10yr futures has paused, allowing prices to drift through the first few weeks of 2024. Nonetheless, prices remain in a medium-term uptrend after the contract traded to new highs of 96.110 at the end of 2023. This takes out key resistance at the 96.050 level, opening levels seen higher at the 2.0% upper Bollinger Band of 96.126. Key support lies below at 95.390 as well as 95.275. Weakness through here could mark the conclusion of the bounce off the bear trigger at 94.965.

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