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AUSSIE BONDS

Holding Firmer Post-FOMC, Curve Bull Steepens

AUSSIE 3-YEAR TECHS

(H3) Falters on Firm CPI

BONDS

NZGBS: A Touch Firmer Post-FOMC

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Key Support Remains Exposed

GBPUSD TECHS
  • RES 4: 1.2004 Low Aug 5
  • RES 3: 1.1860 50-day EMA
  • RES 2: 1.1783 High Aug 29
  • RES 1: 1.1590/1738 High Sep 14 / 13
  • PRICE: 1.1459 @ 06:13 BST Sep 16
  • SUP 1: 1.1451 Intraday low
  • SUP 2: 1.1412/06 Low Mar 20 2020 and major support / Low Sep 7
  • SUP 3: 1.1324 1.50 proj of the Jun 16 - Jul 14 - Aug 1 price swing
  • SUP 4: 1.1300 Round number support

GBPUSD remains soft. The reversal lower this week reinforces bearish conditions and signals the end of the recent corrective bounce. A bearish sequence of lower lows and lower highs highlights a broader bear cycle. Note that moving average studies are in a bear mode set-up too. Attention is on key support at 1.1412, Mar 20 2020 low that was recently pierced. A clear break would strengthen bearish conditions. Initial firm resistance is 1.1738.

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