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(H9) Shows Above 98.00 *RES....>

AUSSIE 10-YEAR TECHS
AUSSIE 10-YEAR TECHS: (H9) Shows Above 98.00
*RES 3: 98.2000 - Aug2 2016 High
*RES 2: 98.1800 - Sep1 2016 High
*RES 1: 98.0900 - Oct3 2016 High
*PRICE: 97.9925 @ 15:24 GMT, Mar 12
*SUP 1: 97.8196 - 50-dma
*SUP 2: 97.1900 - Nov 9 low
*SUP 3: 97.1450 - Jun7/8 low
Tuesday saw fresh contract highs in Aussie 10yr, which also tipped above the
98.00 handle for the first time since 2016. This keeps the momentum comfortably
in favour of the bulls and, better yet, the RSI measure is yet to indicate 10yrs
are overbought. All-time highs of 98.20 are next up, but the going will likely
be tough without a close above the 98.00 handle. To the downside, recent price
action has solidified the 50-dma as firm support at 97.8196. A break below here
would open the 97.6921 mark, the 38.2% Fib retracement for the 97.1900-98.0025
move.

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