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AUSSIE 10-YEAR TECHS: (H5) Resistance Remains Intact

AUSSIE 10-YEAR TECHS
Fixed Income Technical AnalysisBulletAPACFixed Income BulletsAustraliaMarkets
  • RES 3: 96.501 - 76.4% of the Mar 14 - Nov 1 ‘23 bear leg
  • RES 2: 96.207 - 61.8% of the Mar 14 - Nov 1 ‘23 bear leg
  • RES 1: 95.625/851 - High Jan 30 / High Dec 11 
  • PRICE: 95.560 @ 16:35 GMT Jan 31
  • SUP 1: 95.275 - Low Nov 14  (cont) and a key support 
  • SUP 2: 94.477 - 1.000 proj of the Dec 11 - 23 - 31 price swing
  • SUP 3: 94.495 - 1.0% 10-dma envelope

The Aussie 10-yr futures contract continues to trade below the Dec 11 high of 95.851. A stronger bearish theme would expose 95.275, the Nov 14 low and a key support. Clearance of this level would strengthen a bearish theme. For bulls, a confirmed reversal and a breach of 95.851, the Dec 11 high, would instead reinstate a bull cycle and refocus attention on resistance at 96.207, a Fibonacci retracement point.  

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  • RES 3: 96.501 - 76.4% of the Mar 14 - Nov 1 ‘23 bear leg
  • RES 2: 96.207 - 61.8% of the Mar 14 - Nov 1 ‘23 bear leg
  • RES 1: 95.625/851 - High Jan 30 / High Dec 11 
  • PRICE: 95.560 @ 16:35 GMT Jan 31
  • SUP 1: 95.275 - Low Nov 14  (cont) and a key support 
  • SUP 2: 94.477 - 1.000 proj of the Dec 11 - 23 - 31 price swing
  • SUP 3: 94.495 - 1.0% 10-dma envelope

The Aussie 10-yr futures contract continues to trade below the Dec 11 high of 95.851. A stronger bearish theme would expose 95.275, the Nov 14 low and a key support. Clearance of this level would strengthen a bearish theme. For bulls, a confirmed reversal and a breach of 95.851, the Dec 11 high, would instead reinstate a bull cycle and refocus attention on resistance at 96.207, a Fibonacci retracement point.