Free Trial

(H9) On The Defensive *RES.....>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (H9) On The Defensive
*RES 3: 98.2000 - Aug2 2016 High
*RES 2: 98.0900 - Oct3 2016 High
*RES 1: 97.9650 - Jan3 2019 High
*PRICE: 97.8850 @ 16:07 GMT, Feb25
*SUP 1: 97.1900 - Nov 9 low
*SUP 2: 97.1450 - Jun7/8 low
*SUP 3: 97.0500/0450 - May/2018 Low
After rallying toward the YTD high of 97.9650, bullish momentum faded into the
tail-end of last week, and that's followed through to the Monday session,
keeping focus on the recent ranges. Bears continue to target 97.8250 support,
with last Thursday's break higher not enough to shift the outlook bullish. The
50-dma at 97.7545 remains key support. A fall through here would see bears fully
regain control, targeting a move toward the 61.8% Fib retracement for the
91.19-97.965 move at 97.4861. To the upside, a break back above the Feb8 highs
of 97.9350 would open 97.9650 and 98.09 above there.

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.