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AUSSIE 10-YEAR TECHS: (H9) Two-way Risk
*RES 3: 98.2000 - Aug2 2016 High
*RES 2: 98.0900 - Oct3 2016 High
*RES 1: 97.9650 - Jan3 2019 High
*PRICE: 97.8850 @ 16:27 GMT, Feb19
*SUP 1: 97.1900 - Nov 9 low
*SUP 2: 97.1450 - Jun7/8 low
*SUP 3: 97.0500/0450 - May/2018 Low
Tuesday trade stabilised 10y futures somewhat, with ranges remaining tight
although spillover buying from US treasuries looks to ensure a positive finish.
With bears failing to find second gear and target 97.8250 support, prices
bounced, but more is needed to shift the outlook bullish. The 50-dma at 97.7247
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.