Free Trial

(H9) Late recovery, but........>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (H9) Late recovery, but downtrend intact
*RES 3: 98.2000 - Aug2 2016 High
*RES 2: 98.0900 - Oct3 2016 High
*RES 1: 97.9650 - Jan3 2019 High
*PRICE: 97.7650 @ 15:58 GMT, Feb5
*SUP 1: 97.1900 - Nov 9 low
*SUP 2: 97.1450 - Jun7/8 low
*SUP 3: 97.0500/0450 - May/2018 Low
10yr futures were generally pressured in the hours following the RBA rate
decision, with a late rally ahead of the NY close doing little to deter bears
from focusing on recent lows. To the downside, bears need to clear the 50-dma at
97.6257 to fully regain control, targeting a move toward the 61.8% Fib
retracement for the 91.19-97.965 move at 97.4861.Recent highs of 97.8050 become
the first target. For prices recover further, bulls need to tip above here to
mount any serious challenge on the Jan3 2019 high of 97.9650.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.